That had to be one of the most half-baked articles Ive seen out of "The Economist," and Ive read their stuff on and off for years. They identify the symptoms correctly, and then spend 1000 words misleading you on the cause, so they can sell you "The Fix."

Here's the real problems:

1. Rent-seeking behavior by the land-owning generation, seeking to retire and live off rental income and a reverse mortgage, instead of building generational wealth.

2. Rent-seeking behavior by local councils and cities, all but demanding bribes and kickbacks; they hold up permitting for building anything beyond single-family dwelling.

3. Rent-seeking behavior by the majority holders of capital - the banks. Because a majority of properties are subject to mortgage, this has allowed for massive speculation, in funny money, on limited amounts of real property. This drives up prices.

4. Rent-seeking behavior by all levels of government. Property taxes are the most efficient means of destroying wealth.

To be brief, the rents are too damn high! Theres no law you can write that will fix these issues, either. It will bloat and overheat until it collapses like a cake in the oven.