2 ms·
Yeah, housing is definitely a bigger problem. I was thinking about it for some time, it seems the root of the problem is that rich homeowners try to prop up the
by cousin_it 3y ago
Yeah, housing is definitely a bigger problem. I was thinking about it for some time, it seems the root of the problem is that rich homeowners try to prop up the value of their homes, by lobbying to stop new housing construction nearby. Basically cities want to grow, but existing homes act as a brake.
If that theory is true, maybe one possible solution is to pay rich folks to get out of the way. The city can offer to buy their land, tear down their home, build an apartment building in its place, and pay them a cut of all future rental income from that building. This way they won't feel like selling now is missing out on future increases in land value. They can use the income to live comfortably somewhere else, and the city becomes free to build up.