2 ms·

So you want a still artificially-undersupplied market, but with novel ownership covenants and a different taxation regime, and an experimental one at that. Wher

So you want a still artificially-undersupplied market, but with novel ownership covenants and a different taxation regime, and an experimental one at that. Whereas if we just got rid of the artificial undersupply all these problems would vanish. That's not to say a UBI isn't a good idea. But if the lowest rents were around $100/mo (as they used to be even after adjusting for inflation) a large fraction of people who need help today would be able to get by on their own.

scotty79 2y ago
Oversupply doesn't fix the problem of people with huge amounts of capital and people with no capital competing for the same limited essential resource with completely different goals in mind. Prices will always be skewed towards unaffordability regardless of the supply. With more abundant housing rich people and organizations could just buy more of it and drive the prices back high again. There are two supply sides to consider, not just supply and demand. One is supply of housing and the other is supply of money. Since financial world of the rich grew astronomically in recent decades there's huge oversupply of money looking for things to buy. The rich could swallow any amount of additional real estate you can throw at them just buy reducing how much stock market companies valuations are inflated just by a little bit. The only way to safeguard housing from that is making it a comparatively worse investment than other things. Just making more of it won't be sufficient at this stage. Look how much more housing supply China built and housing is still expensive there even though they already have few times more housing units in the country than families.