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Don’t worry, literally every single one of the presidential candidates in the democratic primary wants to “build wealth” by making housing ever more expensive.
by thedance 7y ago
Don’t worry, literally every single one of the presidential candidates in the democratic primary wants to “build wealth” by making housing ever more expensive. It’s practically state policy to make it impossible for a first-time buyer.
- elicash 7y agoThe entire point of housing policy at the local level, where it matters, is to make housing more expensive because people's wealth is in their homes and they're relying on housing prices to rise steadily. Renters have less political power.
- thedance 7y agoLocal policy is broken but I’m not convinced that it dominates. The Feds have the mortgage interest deduction and Fanny, which both stimulate the demand side very greatly.
- elicash 7y agoAren't significantly fewer (tens of millions?) people taking the mortgage interest deduction due to tax reform that doubled the standard deduction? Doesn't seem to have driven a collapse in housing costs. We need more density in low-density areas of cities. Allow people to have multi-family homes if they choose it.
- holtalanm 7y agoat the risk of getting into a political debate on the internet: I hadn't heard this. Do you have any sources backing up this claim?
- thedance 7y agoHave your seen any of them open their mouths at the debate? Moderator: solve black poverty Candidate: we’ve got to get them into houses so they can build wealth.
- holtalanm 7y agothat....doesn't necessarily correlate with making housing more expensive, though. There are government-funded housing programs in other countries that they may be referencing as a model, for example.
- thedance 7y agoIf it “builds wealth” faster than any other means then it necessarily becomes more expensive for new entrants. This is an inescapable outcome.