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Home owners block new housing to drive up their home valuations, treating housing as an investment and pricing out an entire generation.
by epistasis 2y ago
Home owners block new housing to drive up their home valuations, treating housing as an investment and pricing out an entire generation.
- robertlagrant 2y agoI think you're mistaking a small subset for the general set of home owners. The root cause of what you're talking about is demand is exceeding supply, by quite a long way. The population is growing - through various means - faster than homes are being created. That means a few home owners will do what you describe.
- KingMachiavelli 2y agoProp 13 means local municipalities need to extract higher fees and taxes on new construction compared to existing property. Higher development costs/prices cause dead weight loss and therefore block/reduce new development.