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Not all assets are equal. Shelter is a basic human need. Creating an environment that allows speculation in this asset is bad. Progressively tax the shit out o

by ux-app 4y ago

Not all assets are equal. Shelter is a basic human need. Creating an environment that allows speculation in this asset is bad. Progressively tax the shit out of each subsequent property owned. Prevent foreign/corporate ownership of property outside of short stay, hotel/motel type accommodation. Make shelter an extremely unattractive asset to own. Unfortunately, many politicians across the world are also landlords.

Panzer04 4y ago
Edit: My first paragraph conveys more frustration than perhaps I wanted, but it's what I think every time I hear this argument. I don't think "basic need" is a good argument, as many other things are basic needs but function perfectly fine in a market-based system. This perspective sounds moral, but proposes nothing to actually resolve the problem (other than to advantage a particular section of the population at the expense of another - namely, people who would like to be homeowners). I note that most such proposals make no allowances for people who would like to rent - because they don't actually care about anyone other than themselves; they want to own a home, ideally at a low price, in a good location, with good services, on a large block. Food is also a basic need, but does not get any of the attention because it is a functioning market. In many places, property is not a very functional market, as suppliers (developers) are unable to respond to demand thanks to regulations/zoning.
- ux-app 4y ago
  >Food is also a basic need, but does not get any of the attention because it is a functioning market. If bread and milk were being hoarded by speculators (not some random luxury like truffles) you'd be hearing exactly the same discussion. The point is that rich people with vested interests are stacking the deck against newcomers. >market-based system The free market does not exist. Property markets around the world are being heavily distorted through favourable tax treatment and speculators. >other than to advantage a particular section of the population at the expense of another This is business as usual, except that the advantage almost always flows the other way.
- mellavora 4y ago
  > Food is also a basic need, but does not get any of the attention because it is a functioning market. We'll see how that plays out in the coming year. Lots of revolutions in history have been triggered by unaffordability of food, and step 1 of the classic formula for keeping people happy is food ("Bread and circuses")

by ux-app 4y ago

Panzer04 4y ago

Edit: My first paragraph conveys more frustration than perhaps I wanted, but it's what I think every time I hear this argument. I don't think "basic need" is a good argument, as many other things are basic needs but function perfectly fine in a market-based system. This perspective sounds moral, but proposes nothing to actually resolve the problem (other than to advantage a particular section of the population at the expense of another - namely, people who would like to be homeowners). I note that most such proposals make no allowances for people who would like to rent - because they don't actually care about anyone other than themselves; they want to own a home, ideally at a low price, in a good location, with good services, on a large block. Food is also a basic need, but does not get any of the attention because it is a functioning market. In many places, property is not a very functional market, as suppliers (developers) are unable to respond to demand thanks to regulations/zoning.

ux-app 4y ago
>Food is also a basic need, but does not get any of the attention because it is a functioning market. If bread and milk were being hoarded by speculators (not some random luxury like truffles) you'd be hearing exactly the same discussion. The point is that rich people with vested interests are stacking the deck against newcomers. >market-based system The free market does not exist. Property markets around the world are being heavily distorted through favourable tax treatment and speculators. >other than to advantage a particular section of the population at the expense of another This is business as usual, except that the advantage almost always flows the other way.
mellavora 4y ago
> Food is also a basic need, but does not get any of the attention because it is a functioning market. We'll see how that plays out in the coming year. Lots of revolutions in history have been triggered by unaffordability of food, and step 1 of the classic formula for keeping people happy is food ("Bread and circuses")