I see the issue of housing is a combination of:

- House prices increasing while wages are stagnant

- Home loans and increasing prices mean the people going for huge leverages on their home purchases

- Supply is essentially government controlled, and dependent, and building more housing is heavily politicized

- A lot of dubious money is being created, which gets converted to good money by investing it in the housing market

- Housing is genuinely difficult to build and labor and capital intensive

> The key issue upstream is that too many good jobs are concentrated in too few places

This no longer is the case with remote work on the rise, If that were the case, housing prices would increase faster in trendy overpriced places, but the increase as of late was more uniform, with places like London growing slower (or even depreciating, relatively speaking) to less in-demand places.

I'd argue that if your point around remote fully held true then that would be shown in the very short-term by rental prices (as the key indicator of people leaving London in lieu of population/census data) but that hasnt been apparent in the data. London rentals have seen much stronger growth post-covid than other places in the UK.

What is happening with house prices in london is a combination of the simple effects of high-ish interest rates v high house prices (limiting affordability) and also flats in general taking a beating from post-grenfell building regs changes and leasehold issues. When you look at granular data there is still a surprising amount growth in Zone 3-4 onwards in London because actual houses in those locations are still sort of achievable for decently paid couples.

Also regionally, a bit glib, but the price increases are happening in Manchester not Bolton or Sheffield not Scunthorpe. If remote working was truly acceptable then those latter locations would be seeing far more inward movement of people but they're not really