4 ms·
> It's something that turns a basic necessity into a speculative asset The solution to that is the same as the housing problem - build more housing. And it's
by drdec 4y ago
> It's something that turns a basic necessity into a speculative asset
The solution to that is the same as the housing problem - build more housing.
And it's fine if the new housing is "luxury" housing - then yesterday's luxury housing becomes today's not-so-luxurious, etc.
- carapace 4y agoIn theory. What we see in practice (here in SF) is a glut of vacant luxury homes next to people living in RVs and tents. Belvedere Island (where Captain Kirk will one day live) is mostly empty. The fancy homes there are almost all investments, few people actually live there.
- drdec 4y agoSo build more housing. Keep doing it until the problem goes away. It will eventually.