Housing shortage needs Government intervention

It is somewhat bizarre that, less than a decade after one of the biggest housebuilding binges ever experienced in a developed economy, we are now trying to grapple with the issue of housing shortage in some areas.

The moral of this particular story is that one should only build houses in areas where actual demand exists, and that the nature of the housing should be capable of satisfying future demographic developments.

One cannot escape from the conclusion that we built a lot of houses of the wrong type and in the wrong areas.