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Here's the point of the article: > since the second world war, governments across the rich world have made three big mistakes. They have made it too difficult
by heresie-dabord 4y ago
Here's the point of the article:
> since the second world war, governments across the rich world have made three big mistakes. They have made it too difficult to build the accommodation that their populations require; they have created unwise economic incentives for households to funnel more money into the housing market; and they have failed to design a regulatory infrastructure to constrain housing bubbles.
The monotonic rise in the cost of housing is because of speculation. But this speculation is "legitimate" capitalism. The corpocracy certainly discourages the leftist notion of limiting capitalism.
> Housing is also a big reason why many people across the rich world feel that the economy does not work for them.
Housing is one of the reasons. Food, healthcare, and the environment are other reasons.
- namlem 4y agoSpeculation is not the cause, rent-seeking regulations are the cause. And these regulations are driven by the demands of ordinary homeowners seeking to protect their investment by artificially constraining new supply.