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Why not? Because they're just going to be purchased by out-of-country buyers and left empty?
by quantified 2y ago
Why not? Because they're just going to be purchased by out-of-country buyers and left empty?
- LegitShady 2y agoor by corporate landlords and rented out. or by already wealthy howeowners leveraging their existing properties to borrow money to buy new properties, or or or or. Or by overwhelming immigration beyond the capacity of the host country, or or or. There are a lot of social problems that cause building houses in and of itself to not be too effective.
- quantified 2y agoRented out increases supply. People have been born anyway, with or without the housing. Look, in terms of supply and demand, we've never had a higher supply of people, and from a propagate-the-species point of view there's no additional demand for people either. I sort of agree that more people overall diminishes the aggregate quality of life, there is more art, music, sports, literature, and everything else created by people than anyone can meaningfully experience anyway, while all of the natural world is destroyed a bit more by each additional person. But adding 2Mm houses will give a bunch of place for people to go to and take pressure off the others.
- LegitShady 2y agorented out doesn't revive the american dream, its a way to convert money from people who don't have enough to buy a house into money belonging to people who have more. It also keeps costs high because it turns properties into investments without consideration of people's welfare. So yes, it may increase supply, but it does less good for society than individual home ownership.