Blog
Introduction to Micro: UK Housing Shortage
Geoff Riley
10th September 2013
As part of our introduction to micro economics we have been looking at the shortage of housing in the UK. The chronic shortage of affordable and suitable housing raises many micro (and macro) issues and I find it a good example of an issue where different policy measures can be looked at in a non-technical way as a path into supply and demand analysis. It also covers the ground with topics such as scarcity, changing needs and wants, affordability, cost-benefit principles, opportunity cost and production possibilities.
Video resources
David Lammy: Lack of housing forcing people into poverty
Can prefabs solve London's housing shortage?
Starter homes price restrictions call
UK private rental sector must grow, says Montague report
Hong Kong starts programme to tackle housing shortage
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.