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Can you honestly say that, within some defined boundary, whether you think of it as geographic (some predominately low income community) or by product segment (
by PKop 9y ago
Can you honestly say that, within some defined boundary, whether you think of it as geographic (some predominately low income community) or by product segment (local real estate markets for example), that the money supply hasn't increased after this policy?
Are there not now more dollars chasing the same goods?
- maxerickson 9y agoI guess $15,000 at the bottom of the market would not tend to have huge localized effects on housing (I think people would be more inclined to move towards cheaper housing than to compete for scarce housing; the $15,000 eases pressure on moving to better paying jobs). For goods like food, the supply is pretty freaking elastic.
- PKop 9y agoThe bottom of the market is exactly where those depending on basic income reside. A "move towards cheaper housing" by others would be competing against basic income dependents within this market segment. This is what I meant by within some defined boundary. Here, its the lower end housing market.
- maxerickson 9y agoRight, but it wouldn't happen in a geographically constrained area and location is the factor that really drives crazy housing prices.