Thomas Piketty and so many others warned about this. I know what you're going to say... "It's the NIMBYs' faults! If they'd just let us build more overleverage

Thomas Piketty and so many others warned about this. I know what you're going to say... "It's the NIMBYs' faults! If they'd just let us build more overleveraged luxury units to increase supply, everyone would have affordable housing!" I disagree entirely. Simply appeasing the demands of the cult of linear supply and demand didn't cut it before the pandemic and it certainly doesn't cut it now. So called free market fundamentalists love Milton Friedman until he points out that without tax generated guaranteed income for poor people, the monetary system will break down. Meanwhile, empty units sit and rot, and peoples' lives are on the line. Billionaires with their "exponentially growing rent extraction without paying taxes" schemes are literally leeching the economic life of the world dry, and it's potentially going to get a lot of people killed unless leaders wake up.