05:26 GMT30 March 2020
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    If It’s Stability You Want, Then Rent, Don't Buy?

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    On today’s episode of Double Down, hosts Max Keiser and Stacy Herbert are joined by Professor Steve Keen to discuss the ECB’s report on the role of the housing sector in causing boom and bust.

    Home ownership can be bad not only for the individual, the ECB says it can be harmful to the financial stability of whole economies. The higher the level of ownership in a given country, the longer and bigger the credit cycles are. Boom and bust, boom and bust, boom and bust. Professor Steve Keen, author of “Can We Avoid Another Financial Crisis?” believes that, indeed, houses are not bananas. It’s the credit, stupid. Credit drives demand and price increases, so address that, not monetary policy.

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    Tags:
    financial stability, home ownership, housing sector, credit, economy, The European Central Bank (ECB)
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