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You are aware that food riots routinely bring down governments, which is why there is government policy that keeps the price of food affordable. (It also brough
by HarryHirsch 4y ago
You are aware that food riots routinely bring down governments, which is why there is government policy that keeps the price of food affordable. (It also brought us consolidation and rural depopulation, but that's the price you pay.)
The thing that's really worrying is this - real estate is inherently unproductive. Investment capital ought to be steered into areas that yield technological progress, not into the equivalent of gold stored inside a mattress.
That's the real reason that policy that keeps housing affordable is needed. It's not only good social policy but also good technological policy.
- spacemadness 4y agoHousing as a speculative investment is absolute lunacy and entirely unfair to upcoming generations. I agree this is not where investment funds should be going. It’s doing nothing but cause mass financial struggle to younger generations to enrich older generations—but what else is new. The incentives need to change to shut down NIMBYism and foreign/corporate investment in housing in a constrained market.
- throwaway6734 4y agoThe people making housing a speculative investment aren't the investment firms, they are just along for the ride. It's your average middle to upper middle class homeowners that refuse to allow new housing to be built