> The recipe for greater wealth equality is to subsidize mortgages and restrict new construction, so that everybody's house values move up a notch, which makes

> The recipe for greater wealth equality is to subsidize mortgages and restrict new construction, so that everybody's house values move up a notch, which makes everyone feel a little bit better about themselves. I assume this suggestion was made "A Modest Proposal"-style, right? Those are the policies we've been following, and they cause great harm. It's already nearly impossible to buy a home in many American cities if you're not upper middle class at a minimum, and even then you're paying an unsustainable portion of your income. Restricting construction further and subsidizing mortgages (so that home prices simply float up to their current value + subsidy) will put homes even farther out of reach.