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I tend to agree with you, but you've got it all wrong. People already want to live there like crazy. The demand keeps piling on and supply has not risen to mee
by xyzzy_plugh 10y ago
I tend to agree with you, but you've got it all wrong. People already want to live there like crazy.
The demand keeps piling on and supply has not risen to meet it. I agree that land value tax is a big part of the problem, but new, high-density development is the only solution.
And even then, housing won't be cheap. You just might be able to get a reasonable mortgage on a place built in the last 50 years.
- branchless 10y agoWe've seen what happens when you meet supply in a speculative bubble. The USA, Ireland, Portugal and Spain all had big supply and banks kept on lending into it because it costs them zero to create fiat money to rent out against land. Then you get a massive crash again. How would demand be if you force a big wedge of people who own/mortgaged more than one home to sell up? I think it would ease considerably. How many SF tech "entrepreneurs" are leveraged on housing? Flush 'em out with land value tax.