Here's How to Actually Fix the Housing Crisis

We can't afford to let the rich hold housing hostage anymore

Homelessness is exploding, housing costs are insane, and corporate-owned politicians will do anything but the right thing — thus, all their current frenzied “activity” around housing, which is actually just incrementalism that’s making things worse.

Can every moral and civilized person agree that shelter is a human right, housing shouldn’t cost a human lifetime, and that any civilization that disagrees is just evil?

Here’s what everyone misses:

The housing crisis only exists because the British (and American, Canadian, etc) economic system is an exploitation machine, the product of manifestly malevolent minds.

At present — by the Bank of England’s own admission — private British banks create digital money out of thin air and lend it to people in the form of mortgages. The Americans do the same via the privately-owned Federal Reserve, and the Canadians do the same via the Bank of Canada and their big 6 monopoly banks (which are all owned by the same shareholders.)

Here’s their published admission of theft:

Deeply indebted British citizens then use this phantom digital money to purchase houses — mostly bidding up the prices of pre-loved relics of slightly more sensible times, or buying flimsy new builds so hastily slapped together by a national cartel of corporate builders that one wonders if they’re designed to last no longer than the length of the mortgage itself.

Having secured their crumbling abode, our homeowner embarks on a decades-long odyssey, toiling under the yoke of interest.

When, or if it is ever over, they come to realize they have paid twice — once for the house, and again to line the bulging pockets of their bank’s shareholders.

This absurdly corrupt system has inflated the money supply, pushed up the price of houses and rents and goods and services like the ego of a mediocre bureaucrat, wasted billions of hours of human life, caused widespread homelessness, housing hardship, and persistent joblessness, and unleashed the evils of interest that mathematically guarantee bankruptcy for some and compounding debt for society.

Luckily, fixing the housing crisis isn’t rocket science:

1. A democratic bank, that rarest of animals, should create actual sovereign money (not private interest-bearing credit) and lend it interest-free to a sovereign housing fund.

2. The sovereign housing fund, armed with moral clarity and an absence of predatory intent, should use the money to hire people to build new hyper-affordable houses.

3. The sovereign housing fund should then sell the houses at cost to owner-occupiers on an installment basis — no debt, no interest, no long-term servitude to the banking class. If the home is £150,000, the payment due is £500/month x 25 years.

4. The democratic central bank, having been repaid, could then either quietly retire the money (sending it back into the digital void from whence it came) or lend it again to build more houses, thus perpetuating a virtuous cycle of construction and debt-free ownership.

But why stop at housing?

With this newfound economic sanity, we could fund all manner of sensible, profitable, at-cost projects to lower the cost of living for all: tidal power, wave power, hydroelectric dams, small modular reactors, canals, tunnels, hyperloops, vactrains, maglev streets, seaports, airports, holiday islands, new cities, you name it.

We should embark on ventures so audacious and glorious they would make the Romans blush.

And all of this without the scourge of price inflation ransacking the pound/dollar/loonie’s purchasing power.

Instead of causing price inflation, this form of money-creation does the opposite — it deflates soaring prices and permanently ends the cost of living crisis.

This new economic model will help millions of people become debt-free homeowners.

It will eradicate profit from shelter, flush millions of land-lorders, bring home prices back to cost, and decimate homelessness and its attendant crime and drug addiction.

It will boost employment and skyrocket growth in the real economy.

It will save countless millennia of human time.

It is the first noble task on which every entire country should set its sights.

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2 weeks to go! Pre-order my new book on the devil now. (Here’s a wild-ride-of-an-article about it that just got published in the Daily Mail.)