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I own a home, and if it steadily loses value but my city becomes affordable for anyone who wants to live here, that seems like a pretty fair trade to me...
by Pfhreak 6y ago
I own a home, and if it steadily loses value but my city becomes affordable for anyone who wants to live here, that seems like a pretty fair trade to me...
- foogazi 6y agoWould we own homes if they steadily lost value ? I mean the house steadily loses value due to deterioration. But the land appreciates due to scarcity and the available financing. >affordable for anyone who wants to live here That doesn’t scale
- Pfhreak 6y agoI'm talking about how, in the transition between housing as a commodity vs housing as a public good there would be loss of value. And I think people still would want to own houses. There's pride in being a homeowner for many. Knowing you have a place that is yours. It does scale, because not everyone wants to live here. Some people want to live in nyc or Miami or Houston or Chicago, etc. There's a finite interest in any location.
- sizzle 6y agoTell that to the people who will be underwater on the mortgage, only way this is equitable for all is if mortgage loan principle is adjusted in reverse in parallel.
- Pfhreak 6y agoThat sounds reasonable to me. If we're working on decommodification of housing, it makes sense to assist folks during the transition.