Survey: Oil Costs Up, House Prices Down, Good News or Bad?
Simon Jenkins writes in the London Times Online: "The boom/bust in oil and house prices is, quite simply, good news, whatever the tangential pain. It shows that the good ship Gaia, planet Earth, is traumatising its passengers into husbanding its scarce resources." He points out that "Price always tends to bring supply and demand into equilibrium, if left free to do so within an intelligent regulatory framework."- so houses are becoming more affordable and people are driving less.