> This is just trickle down theory, but for housing instead. What actually happens is that old housing stock is bought by investors who then tear it down and de

> This is just trickle down theory, but for housing instead. What actually happens is that old housing stock is bought by investors who then tear it down and develop it into luxury housing, and often that housing is then either used as speculative assets or bought by some of the world's richest people looking to store value. Yet this theory is how actual housing has worked in many other places. Just because institutional investors have been manipulating the market in the US for a while doesn't mean it hasn't worked in the past in other places. Again - land value tax + some other taxes like vacancy taxes would solve this issue. You wouldn't see the weird skyscrapers in Manhattan if such things existed. Subsidized housing is not sustainable in the US. Fix the core issues like housing supply and this is a solvable problem. Things like subsidized housing just just fuck over the middle class more. Housing as generational wealth is something we should also avoid. Just creates another aristocracy.