3 ms·
A home is all those that things, but it's also a scarce resource that costs a lot to build and that we don't have enough of. So for every market inefficiency we
by dukeyukey 3y ago
A home is all those that things, but it's also a scarce resource that costs a lot to build and that we don't have enough of. So for every market inefficiency we accept on the basis that a home is special (which isn't wrong!) we accept some level of people dying in the streets, or young people being pushed out of their hometowns, or families never being started.
- tourmalinetaco 3y agoWe don’t have to accept it to this degree though. We have options available to limit who can participate in local markets, and to what extant. A foreign billionaire with loose ties at best to the locations in question should not be eligible to buy houses as they please as “investments”, in fact I find it a strenuous ask to allow local billionaires to do the same. I certainly wasn’t happy to hear a Silicon Valley billionaire moved back to my area and started buying up land in a vain attempt to “revitalize” the area, only to sit on it for the last 5 years. The problem is that enforcing any sort of restrictions would be warped to disproportionately affect the 99% while the 1% would use loopholes to continue doing as they please. So it would probably be more pragmatic to eat the rich and their lackeys before anything else.