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> By definition, you can either make housing affordable to young people entering the market, or make housing a path to wealth appreciation for homeowners By wh
by clipsy 3y ago
> By definition, you can either make housing affordable to young people entering the market, or make housing a path to wealth appreciation for homeowners
By whose definition? Certainly the massive suburban expansion in the 60's and 70's resulted in affordable homes to young Baby Boomers entering the market and also to wealth appreciation for the same.
- paulgb 3y agoBy definition that every trade has two parties. Those boomers are now sitting on house wealth for the same reason that millennials without family wealth are priced out of home ownership. If we built more housing, prices would go down for millennials, and those boomer’s investments wouldn’t look as good. One way of putting it: pick a number of hours the average person should have to work over time to buy a house. If you want that number to stay the same, housing can only appreciate as quickly as wage inflation.
- deleted 3y ago[deleted]