OZY: Building Blocks for A Cheaper Housing Market

By SIMON CONSTABLE

In the mid-1970s, my grandfather retired after decades with the Admiralty, the U.K.’s equivalent of the U.S. Navy, and bought the first home he ever owned — paying 100 percent cash for it. Not bad for a man who spent most of his life getting by on a government salary. These days, the idea that an average working person in Britain or the U.S. could accomplish such a thing seems ludicrous, a truly impossible dream.

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