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This was attempted in New York City and failed miserably. Property values rise in locations that are highly desirable regardless of government or market interv
by chinchilla2020 5y ago
This was attempted in New York City and failed miserably.
Property values rise in locations that are highly desirable regardless of government or market intervention. It has more do to with the surface area of the earth than any particular policy.
A government system will result in similar issues - Look at the retirees and trust funder tenants living in mostly-empty 4 bedroom rent controlled apartments in NYC.
You have to allocate the limited space somehow. You cannot fit more people into one square meter of land without building higher or denser, and building higher is not always a simple option.
- bradleyjg 5y agoGovernments can: -cease preventing density by legal fiat -support density with infrastructure -cease encouraging home cost inflation via the tax code, socialized lending institutions, and bank capital regulation -put in place a property tax systems that encourages the most valuable use of land -eliminate parking mandates and free parking -broaden the commutable footprint by building excellent mass transit systems That’s not perfect but if it’s far from nothing.
- Aeolun 5y agoOne house per person seems like a fairly simple way to control rent seeking.