This increase would raise the housing stock by only 1%, which in turn would lower prices by no more than 2%, calculates John Muellbauer, a housing economist at Oxford University.
ECONOMIST: No he can't
2.
With a housing-wealth effect twice as large (the same size as in Mr Muellbauer's study) and one and a half times as speedy, it would be 1.5% lower a little earlier.