A recent social media post by Zack Stentz has highlighted a pervasive concern regarding the "insane housing market" prevalent across English-speaking countries, prompting questions about underlying causes such as English common law or insufficient construction. The tweet, which stated, > "Why does seemingly every country in the English-speaking world have an insane housing market? Is it something inherent to English common law that makes us not build enough housing or something?", encapsulates a widely felt frustration over housing affordability and availability.
Indeed, a widespread housing crisis is afflicting major English-speaking nations, including the United Kingdom, Canada, Australia, New Zealand, Ireland, and the United States. These countries consistently report high housing costs, declining homeownership rates, and significant shortages of affordable homes. This situation disproportionately impacts younger generations, such as Millennials and Generation Z, who face a more competitive market and dedicate a higher proportion of their income to housing.
A key factor contributing to these challenges is the nature of planning systems and land-use regulations. Unlike many developed European countries that favor higher-density construction, English-speaking nations often feature planning frameworks susceptible to "Not In My Backyard" (NIMBY) opposition. This local resistance, coupled with restrictive zoning laws that limit building types, dictate minimum lot sizes, and impose height restrictions, significantly constrains housing supply, particularly in desirable urban and suburban areas.
Beyond regulatory hurdles, other factors exacerbate the housing crunch. High demand, often driven by population growth and urbanization, consistently outpaces new construction. The financialization of housing, where properties are increasingly viewed as investment assets, also contributes to rising prices. Furthermore, labor shortages in the construction sector and escalating material costs add to the overall expense of building new homes.
The persistent housing crisis has profound societal and economic implications, fueling inequality, limiting social mobility, and contributing to broader economic instability. Governments across the Anglosphere are grappling with this complex issue, with many now focusing on reforms to planning systems and policies aimed at boosting housing supply to address the long-standing affordability challenge.