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It wont increase stock if you tear down a block of public housing that housed 180 and build an apartment block with 160 investments for Arab sheikh portfolios
by pydry 3y ago
It wont increase stock if you tear down a block of public housing that housed 180 and build an apartment block with 160 investments for Arab sheikh portfolios and 40 middle income apartments with a poor door.
Until land or property is taxed high enough to discourage hoarding the shortage will only get worse, even if supply trickles up. Housing is supply constrained.
As rents and prices go up the incentive to use politics to inhibit further construction also goes up. This is how a hundred residents can turn up to a city meeting in SF and demand that a launderette be declared historic.
- MostlyStable 3y agoHousing as investment only makes sense in a supply constrained environment, and, as far as I've seen, the evidence that significant amounts of housing is being held empty for investments (foreign or otherwise) is pretty scarce. It's a popular narrative that doesn't seem to be supported by the data. Build enough, and housing wont' be an investment anymore. As it shouldn't be. That being said, I'm definitely also in favor of an LVT