The population-house price myth, according to Steven Keen

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The property lobby consistently argues that the driving force beneath rising house prices is a rising population. Even a cursory examination of the data shows that this is not true, argues Steven Keen, associate professor of economics and finance at the University of Western Sydney. The real force is accelerating mortgage debt, as he explains in the video below. (Read more about Keen’s views on his DebtWatch blog.)

Source: YouTube, June 9, 2011(hat tip: Financial Doom Blog).

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