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If everyone had $40k/year of guaranteed income, all of a sudden opportunities to go around slumlords opens up: they can buy land and new-build or redevelop hous
by mjmahone17 6y ago
If everyone had $40k/year of guaranteed income, all of a sudden opportunities to go around slumlords opens up: they can buy land and new-build or redevelop housing with UBI-Backed mortgages (so the bank knows they’re getting the money back).
Renters almost by definition aren’t capable of amassing enough capital to build new housing, so are at the mercy of the existing supply. If it is guaranteed that everyone has a capital-amassing stream of income available to them, they gain an ability to turn that stream into something longer term. Sure, this still may not be possible in areas with strict housing regulations, but a guaranteed, portable stream of income also provides people the means to move.
- Udik 6y ago> they can buy land and new-build And why would they sell you land for less if they know you have $40k more of income? Everyone can pay that extra money, if I am a seller I am raising my prices accordingly.
- fragmede 6y agoIs there a reason other than naked greed, why you (philosophical 'you', not you personally) would raise your prices accordingly? Keep in mind that even as a multi-millionaire slumlord you would also receive UBI (or else it ain't universal) which is enough to cover basic food and shelter.
- three14 6y agoBecause you don't directly set real estate prices based on the buyer's income. You simply sell to the highest bidder. The bidders look at their own income and decide what to pay. If all the bidders have more money, the price will tend to rise.
- thejynxed 6y agoThe prices will rise without fail, as seen in every real estate market from Shanghai and Toronto to London and the San Francisco Bay area.