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Where do you put them though? Good land is hard to come by & most of what you're describing here is already done by commodity housing developers in the outskirt
by jmole 5y ago
Where do you put them though? Good land is hard to come by & most of what you're describing here is already done by commodity housing developers in the outskirts of (e.g.) many big cities in Texas.
New housing creates new infrastructure problems, and our government is insanely bad at dealing with these kinds of things.
Here's my equally unlikely but also naively aspirational plan: inflate the US dollar until housing is affordable again.
- deleted 5y ago[deleted]
- oyashirochama 5y agoYou joke about that being equally unlikely. But looking at the current inflation rate it is much more likely to be held true compared to any other economic plans or lack there-of.
- dragonwriter 5y ago> But looking at the current inflation rate it is much more likely to be held true compared to any other economic plans or lack there-of. No, its not; even if you naively project the current inflation rate into the future instead of expecting a reversion to the mean, since the current inflation rate is largely driven by housing prices (that is, housing prices are inflating much faster than overall price levels and, more importantly, wages), it would never make housing affordable; in fact it is doing the opposite.
- craftkiller 5y agoChicago has loads of vacant land[1] and unused buildings[2] not far from the city center. Also, the land for "the 78" is still mostly undeveloped[3]. [1] https://cdn.vox-cdn.com/uploads/chorus_asset/file/7917749/Screen_Shot_2017_02_02_at_10.39.05_AM.png https://cdn.vox-cdn.com/uploads/chorus_asset/file/7917749/Sc... [2] https://chicago.curbed.com/2016/3/9/11185730/chicago-eminent-domain-old-post-office https://chicago.curbed.com/2016/3/9/11185730/chicago-eminent... [3] https://www.78chicago.com/ https://www.78chicago.com/
- 1123581321 5y agoApologies if you’re joking, but inflation increases housing prices and reduces the effective minimum wage.
- jmole 5y agohousing prices (and asset prices in general) are already in a bubble - you can either deflate that bubble (unlikely to happen given the state of things), or you inflate the rest of the economy to match.