Real estate bubbles lower the birth-rate

Shelter is a human necessity second only to food on Maslow's hierarchy of needs; but it's also an asset-class that is increasingly relied upon by the world's super-rich for money-laundering, rent-extraction and simple investment -- this creates a dilemma for governments, who are under pressure to ratchet up the cost of a fundamental human necessity in order to enrich a minority of wealthy land- and property-owners. (more…)