4 ms·

Seems like a convenient scapegoat to distract from the problem that we don't build as many houses as we used to: https://www.theatlantic.com/ideas/archive/2023

• vanilla_nut 4y ago
  Why not both? Building fewer houses artificially constrains the supply, driving prices up. Investors prey on the market opportunity. We should definitely build more (IMO "missing middle" walkable mixed-use housing), but we also have to deal with the strong, moneyed, vested interest in keeping housing costs artificially inflated. This literal rent-seeking behaviour is so lucrative they won't just let us fix the problem without a fight. And even if we started to build dramatically more housing today, it would take years to catch up to market demands. So it might be a good idea to get the investors out of the game sooner to take some pressure off the market faster. And not just investors: individuals hoarding vacation homes and short term rentals should be disincentivized, too.