How does London's housing crisis affect the UK economy?

"A "localised housing crisis" has become a "national problem", according to Liam Sides, associate director in Oxford Economics' Cities & Regions team."

""London is such a substantial part of the UK economy and its underperformance has become a central part of the UK's overall productivity slump""

""High housing costs, fuelled by limited land availability and regulatory constraints are... pushing workers further away from their place of work.""

London is failing to meet building targets, homelessness is at record levels and many families are being priced out of the housing market. The housing shortage and high costs have transformed a localized problem into a national issue, contributing to London's weak economic growth since 2008. London accounts for almost a quarter of the UK economy but has stagnated, with Greater Manchester outpacing it. High house prices, limited land and regulatory constraints push workers away from jobs, reduce agglomeration benefits, restrict skilled labour mobility and make London less attractive to global talent, worsening productivity.

Read at www.bbc.com