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The first half of the article lambasts the current conflicted interests of homeowners, who are obsessed about wealth-building through their property purchase an
by prostoalex 6y ago
The first half of the article lambasts the current conflicted interests of homeowners, who are obsessed about wealth-building through their property purchase and thus super-sensitive about increasing housing supply in their zip code. Boo wealth-minded howeowners!
But few paragraphs below under his proposal those who choose to participate are awarded “the opportunity to begin generating wealth immediately, from the minute they form their first household - a leap forward for both racial and generational equity”.
That’s a possibility, sure, but what about the property potentially losing value due to supply pressure or changing job market conditions? Aren’t the homeowners under his program as likely to develop hardcore NIMBYism as under any other financing scheme?
- dslkfjg 6y agoThe chief wealth generating event that most home owners experience is when the deed is yours. Then you aren't paying the bank "rent" any longer and only have to worry about property taxes and maintainence. Then you have the start of intergenerational wealth and or a hard asset you can sell for example, old people selling homes and buying a smaller they're better able to manage. Nt saying the article is not contradictory, maybe it is, just pointing out that "wealth" is a flexible concept.