Stunning study shows supply reduces prices
A controversial study by a shadowy underground network of economists has suggested that increasing the supply of a product may actually reduce its price. Writing anonymously to protect their reputations, the executive summary of their paper concluded:
A controversial study by a shadowy underground network of economists has suggested that increasing the supply of a product may actually reduce its price.
Writing anonymously to protect their reputations, the executive summary of their paper concluded:
‘It appears that even if the newly built apartments have very high prices and are only bought by the rich, this just frees up other properties as wealthy people upgrade. By selling or renting out their current properties, they allow the middle class to move up, which thus allows poorer people more choice in properties.”
“It’s basically like a chain reaction,” one lead researcher explained in a phone with the OMS. “A fascinating result, and completely counter-intuitive for anyone with an IQ below 85”
The announcement has triggered a furious backlash, with critics warning that this approach could result in the deeply troubling outcome of property developers making profits.
Anne Tagonist MP and former chair of the housing committee at Southwark Council rejected the study outright: “It is despicable that people can call for more housing to be built in London when the current cost of such houses is beyond the means of ‘ordinary families’. Until prices reduce drastically, there should be an outright on building anything in London aside from social housing”.
Her concern was echoed by Renton Kontrole, a researcher for the radical NEF (No Economics Frankly) thinktank, who emailed a statement to the OMS:
“We need to abolish all apartments costing more than the average wage. By getting rid of expensive housing, we can ensure that only cheap housing remains, lowering the average price of housing.”
The economists have denied links to a secretive group of scientists who recently conducted a controversial experiment involving dropping an apple from a tree to test a radical theory known as “gravity”.
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