From Works in Progress:

We can see the effects of wars of course. We can also see the effects of free markets in those periods before each of the World Wars. Housing construction boomed as the country got richer and the population grew.

Then in 1947, with the Town and Country Planning Act, we got the nationalisation of development rights to land. We now have less - and worse given the size of what is permitted - housebuilding. Simply because that process is indeed now centralised and subject to every whinge and complaint from whoever.

Nationalisation means less and worse. We should perhaps solve this by privatising development rights. Blow up the TCPA, proper blow up, kablooie.

Tim Worstall