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It's not the home itself that's the investment. It's the plot of land on which you are allowed to build a certain type of home and in an area where you are bann
by ZeroGravitas 3y ago
It's not the home itself that's the investment. It's the plot of land on which you are allowed to build a certain type of home and in an area where you are banned from doing other things that would reduce the home's value, like building high density housing.
That's what you are investing in and voting to protect.
But yes, that is the core of the issue. You need an off ramp for the people who bought into this Ponzi scheme or they'll vote to perpetuate it.
- _heimdall 3y agoIf you're getting at revoking building codes or zoning laws, I'm all for that! Unfortunately I don't know what an off ramp would be other than a housing crisis similar to or larger than 2007-2008. A ton of "wealth" is locked up in real estate, and more importantly in mortgage debt. That can't be gently removed or wound down, the loans would have to be allowed to fail before we can move on from this idea that taking on huge amounts of debt is an investment in our future.