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What kind of housing someone can afford is a political question. Our current answer to it is that this should be resolved through market mechanisms, which creat
by door100 6y ago
What kind of housing someone can afford is a political question. Our current answer to it is that this should be resolved through market mechanisms, which creates high prices alongside scarcity
- yellowapple 6y agoAin't even the market mechanisms themselves that drive the high prices; rather, it's what those market mechanisms track. Transitioning from land prices to land rental values - i.e. gradually moving toward a 100% land value tax - would address both high prices and scarcity by taxing land consumption - and, accordingly, encouraging urban density in order to amortize that tax, thus alleviating scarcity and reducing residential expenses. Same market at play (a land value tax definitionally taxes the market value of land); vastly improved outcome.
- refurb 6y agoIf you're just starting out it doesn't matter if homes are $100k or $1M, you don't have money to purchase. People act like renting is some sort of evil forced upon people, but don't realize there is a big market for renting. People don't always want to own their own housing.
- door100 6y agoThere’s nothing wrong with renting, I support strong, high quality, inexpensive public housing. I don’t support private landlords and the commodification of housing.