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This situation can be turned around into a positive. The higher real estate boom could be used for a massive building boom to reduce unemployment and boost wag
by pascalxus 10y ago
This situation can be turned around into a positive. The higher real estate boom could be used for a massive building boom to reduce unemployment and boost wages in the construction industry. I doubt every last bit of land has been used up, I don't think their density is anywhere near that of Hong Kong.
On a broader scale, I don't understand why (other than politics and legal) this massive multi nationwide demand for housing hasn't created opportunities in the construction industry: building out with existing technologies as well as incentives to produce more efficient methods and tech. Whatever happened to big problems leading to big opportunities? I mean we're talking about a multi-trillion dollar industry begging to be disrupted. I can't name a single unicorn company that's involved in this right now.
- ficklepickle 10y agoThey make it look like they live in the homes to pay no capital gains tax. These homes generally aren't used as homes but investments. It takes a lot of work and luck to even rent a small apartment. Source: I was just reno-victed I had a front row seat. My new apartment had been available for 30 minutes when I put the deposit down. It was pure luck that I found somewhere to live . It's not sustainable.