AI Is Going to Smash House Prices Forever
Every week, another pundit crawls out of the financial media to tell you that artificial intelligence is going to be great for house prices. AI-driven productivity! A new wealth boom! Better property markets! Higher prices ahead! It is fraudulent nonsense. And Fred Harrison is going to explain precisely why, in terms that any honest person can follow, because the stakes could not be higher. We are not talking about a market correction. We are not talking about a slowdown. We are talking about a collapse that has no floor under the current system, and a fiscal catastrophe that will make the 2008 crash look like a minor inconvenience. Buckle up. The Doom Loop Nobody Is Talking About To understand what AI actually does to house prices, you need to understand what it does to the economy at three distinct but interlocking levels. First, the labour market. When a firm adopts AI and raises its productivity, what happens? Its competitors are forced to respond. And how do they respond? They sac...