Housing: where will we all live?

Contributor(s): Richard Blakeway, Professor Paul Cheshire, Rachel Fisher, Wayne Hemmingway, John Stewart | The governor of the Bank of England recently warned that the overheated housing market represents the "biggest risk" to the country’s long-term recovery. Mark Carney said rising property prices and the subsequent increase in large-value mortgages, could lead to a "debt overhang" capable of destabilising the economy. He spoke of "deep, deep structural problems" in the market, with demand for homes outstripping supply. In his native Canada, there are half as many people yet twice as many houses are built there every year as in the UK. On average over the past four years fewer market houses have been built than at any time since WW2. BBC Home Affairs editor Mark Easton (@BBCMarkEaston) asks this expert panel why this country has failed to build enough affordable homes and looks at what can be done to solve our housing crisis. Richard Blakeway is Deputy Mayor for Housing, Land and Property. Professor Paul Cheshire is Emeritus Professor of Economic Geography at LSE. Rachel Fischer is Head of Policy (Delivering Great Homes theme), National Housing Federation. Wayne Hemmingway, Hemmingway Design. John Stewart is Director of Economic Affairs, Home Builders Federation. The recording was broadcast on BBC Radio 4 (@BBCRadio4) on Wednesday 11 June 2014.