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Why wouldn't rent just increase to capture this new income for most people? If UBI is high enough to afford mortgage payments on an owned house, housing prices
by webstrand 5y ago
Why wouldn't rent just increase to capture this new income for most people? If UBI is high enough to afford mortgage payments on an owned house, housing prices will skyrocket (even more than now) until those receiving the UBI are priced out of the market once again. Because once the mortgage is paid off, the value of the property is expected to grow, and that's a bet lots of people are taking, even now in this crazy market.
- seanmcdirmid 5y agoWe could do what they do in Japan and deprecate housing as it ages. Very few people buy second hand properties, so a house is a liability that needs to be demolished vs land without one. It also helps if no one believes in property speculation because of a huge property bubble that burst in the 80s.
- ethanbond 5y agoYou could institute a high LVT and get all the same mechanics without any of the enforcement overhead.
- listenallyall 5y ago> Why wouldn't rent just increase to capture this new income for most people? Of course it would. It's happening right now.