As part of our introduction to micro economics we have been looking at the shortage of housing in the UK. The chronic shortage of affordable and suitable housing raises many micro (and macro) issues and I find it a good example of an issue where different policy measures can be looked at in a non-technical way as a path into supply and demand analysis. It also covers the ground with topics such as scarcity, changing needs and wants, affordability, cost-benefit principles, opportunity cost and production possibilities.

Video resources

David Lammy: Lack of housing forcing people into poverty

Can prefabs solve London's housing shortage?

Starter homes price restrictions call

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UK private rental sector must grow, says Montague report

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Hong Kong starts programme to tackle housing shortage

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