Top Economist: This Is What "Always" Happens Before a Housing Market Crash

About this episode

Steve Keen discusses the factors leading to housing market crashes, focusing on mortgage debt and economic policies.

👉 Download my 3-Book Rebel Economist Bundle (Free this week here): https://www.stevekeen.com (Apply this week and get my 3-Book Rebel Economist Bundle as a Free Bonus. Plus if you're fully approved by my team, get Ravel© - my proprietary economic visualization software I use in my YouTube videos; to predict the economy, like I did years before the 2008 Financial Crash happened). Top Economist Steve Keen exposes how “help-to-buy” style policies in Australia (and beyond) inflated house prices, enriched landlords, and pushed home ownership out of reach for younger generations. Using BIS data and Ravel demos, Steve shows why the real driver isn’t “shortage” — it’s mortgage debt growth and the political choice to treat housing as an asset class, not a basic need. In this hard-hitting breakdown, you’ll discover: ✅ Why first-home buyer grants and LMI waivers pump prices instead of helping buyers ✅ How mortgage debt growth (and its acceleration) drives house prices in multiple countries ✅ Why the US subprime story is only mid-pack globally — and why Australia, Canada, NZ, UK went further ✅ The landlord windfall effect: policies that look helpful individually but are disastrous…

People in this episode

Host: Steve Keen

Topics covered

• housing market
• mortgage debt
• economic policies
• home ownership
• financial crash
• real estate

Keywords

• housing market crash
• mortgage debt growth
• first-home buyer grants
• landlord windfall
• credit-based demand
• economic visualization

Mentioned in this episode

Organizations: BIS

Products: Ravel©

Places: Australia, US, Canada, NZ, UK

More episodes of Rebel Economics with Professor Steve Keen

• Top Economist: NEW "Tax The Rich" Rule Will Change The US Economy Forever · July 15, 2026 · 23 min
• What Happens to Your Debt if the Dollar Collapses: Top Economist · July 14, 2026 · 22 min
• The Real Reason Governments Can’t Just Print More Money: Top Economist · July 9, 2026 · 28 min
• The New Fed Chair's Plan to Cancel $39T Debt Crisis: Top Economist · July 8, 2026 · 11 min
• The Real Reason Why Keir Starmer Has Resigned: Top Economist · July 7, 2026 · 18 min
• Top Economist: What's Coming Is WORSE Than the 1973 Inflation Crisis · July 6, 2026 · 20 min