3 ms·
I suspect that in much of the western world what looks like a shortage of housing is actually an excess of capital.
by hanoz 4y ago
I suspect that in much of the western world what looks like a shortage of housing is actually an excess of capital.
- alwayslikethis 4y agoNot excess of capital, but rather excess of money, due in large part to expansionary monetary policy such as reduced interest rates, allowing companies and investors to scoop up housing, supply of which is not flexible in the short term. In a smaller part it is decades of NIMBY activism and zoning laws making it near impossible to build new homes.