I read the article and it just glosses over the political difficulties, which will be extremely hard to overcome. Basically, when the most engaged citizenry als

I read the article and it just glosses over the political difficulties, which will be extremely hard to overcome. Basically, when the most engaged citizenry also happens to be homeowners, legislating any measure that reduces home values will be akin to political suicide. Even while it acknowledges the hypothetical nature of its arguments, the article doesn't consider negative factors - like the massive number of middle class middle-aged homeowners, whose mortgages will be underwater in case home prices were to drop. Is there going to be bailout of all of them? If not, we are looking at a repeat of 2008. If yes, who foots the bill? Maybe, this idea would have been interesting at the beginning before homeownership was entrenched with the personal wealth. Now? Not so sure.