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The high cost of housing is simply due to the transformation of land into a 'gold-like' asset. This was done by untaxing it and reducing interest rates to zero
by crdoconnor 11y ago
The high cost of housing is simply due to the transformation of land into a 'gold-like' asset. This was done by untaxing it and reducing interest rates to zero (propelling demand for more 'gold' like assets).
It wasn't a market inefficiency that made land hard to create and intentionally drove up its value. It was neoliberals.
- bufordsharkley 11y ago> This was done by untaxing it We never had a full land value tax in our country (or anywhere in the world, for that matter). What does this refer to, exactly?
- crdoconnor 11y agoReduction of property taxes.