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“It is difficult to get a man to understand something, when his salary depends on his not understanding it.” - Upton Sinclair I think that our mortgage scheme
by housingplease 3y ago
“It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
- Upton Sinclair
I think that our mortgage scheme generally, and treating real estate as an investment specifically, leads to competing incentives.
Controlling what other landowners can do with their land can always be financially advantageous, but I don't understand why you'd think this is a good way to run society.
Shall we not build anything anywhere that could result in a negative externality? No one is suggesting that they want to open 'Blood Plants' [0] or similar in your neighborhood.
Furthermore, if subtracting 50k from homeowner's property values nationally were to actually result in affordable housing for all, I'm all for it.
[0] https://www.shouldyoumovetosibleyia.com/blood-plant https://www.shouldyoumovetosibleyia.com/blood-plant
- mewpmewp2 3y agoI would be all for it if it was done in equal terms for everyone who owns a property. Which is how taxes should work here. You should build beneficial infrastructure for the society, but then you should also compensate for the unlucky ones whose property values would get hit by thay, instead of blaming them for something that any rational actor would opt for.
- housingplease 3y agoI think I hear what you're getting at. It sounds like you would advocate for the state to pay Stephen Curry a cash settlement for his upcoming property value losses from affordable housing mandates in Atherton, CA? [0] [0] https://www.sfgate.com/local/article/atherton-backs-curry-opposed-housing-17755551.php https://www.sfgate.com/local/article/atherton-backs-curry-op...
- mewpmewp2 3y agoI don't know about that case at all, so I wouldn't know what to advocate for without going deeper into this. In any case if there's zoning changes that were not planned or communicated in advance when purchase decision was made then the damage to the property value from those should be compensated.