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I have absolutely no problem with people voting for zoning policies that decrease the supply of housing. I have a major problem with incentive structures that a

I have absolutely no problem with people voting for zoning policies that decrease the supply of housing. I have a major problem with incentive structures that are setup such that the people that own houses in that environment become wealthy through no effort of their own. George figured this out 100 years ago[0]. Implement the Land Value Tax. Go ahead and restrict supply, that's your right. But it's going to cost you in taxes. [0]: https://astralcodexten.substack.com/p/your-book-review-progress-and-poverty https://astralcodexten.substack.com/p/your-book-review-progr...

toss1 5y ago
>> I have a major problem with incentive structures that are setup such that the people that own houses in that environment become wealthy through no effort of their own. This is simply wrong. People are not becoming wealthy with no effort. If they collectively vote in the zoning conditions that restrict supply, they are ALSO creating a situation where they MUST pay more in taxes to maintain those conditions. Everything becomes more expensive, and is amortized over fewer people. The residents literally pay every month for those upgrades in higher taxes, longer commutes, higher maintenance costs on larger houses and yards, etc. In real time, those investments pay off in higher quality of living (which is what you want to access for lower cost). Over time, those investments MAY, but do not always, result in larger increases in value. I can tell you that values in my town has barely increased in 15+ years, whereas nearby towns have increased 30-100%, and our town has probably the most restrictions. People are NOT doing this to become wealthy without work. They are doing it for their and their families' quality of life. Sure, there are a few that are flipping houses as a side gig, but the majority of people living in any area I've seen are there building a life and INVESTING in quality of life.

toss1 5y ago

>> I have a major problem with incentive structures that are setup such that the people that own houses in that environment become wealthy through no effort of their own. This is simply wrong. People are not becoming wealthy with no effort. If they collectively vote in the zoning conditions that restrict supply, they are ALSO creating a situation where they MUST pay more in taxes to maintain those conditions. Everything becomes more expensive, and is amortized over fewer people. The residents literally pay every month for those upgrades in higher taxes, longer commutes, higher maintenance costs on larger houses and yards, etc. In real time, those investments pay off in higher quality of living (which is what you want to access for lower cost). Over time, those investments MAY, but do not always, result in larger increases in value. I can tell you that values in my town has barely increased in 15+ years, whereas nearby towns have increased 30-100%, and our town has probably the most restrictions. People are NOT doing this to become wealthy without work. They are doing it for their and their families' quality of life. Sure, there are a few that are flipping houses as a side gig, but the majority of people living in any area I've seen are there building a life and INVESTING in quality of life.