3 ms·
I am a YIMBY (in the form of an incremental upzoning advocate), but the problem with the Abundance campaign is that it will do little to affect housing affordab
by danans 2y ago
I am a YIMBY (in the form of an incremental upzoning advocate), but the problem with the Abundance campaign is that it will do little to affect housing affordability if wealth inequality is not addressed at the same time.
The young and the working class increasingly don't have the capital to buy even with an increased supply of housing.
Absent that, the new housing units will be bought by entities who have most of the capital: very wealthy people and real-estate investment funds.
- BrenBarn 2y agoWild that you're getting downvoted. I agree with you. Housing affordability is a wealth inequality problem.
- danans 2y agoPerhaps people want to only see this problem as having a single facet: housing supply. Maybe others don't see a problem with growing inequality (that's not an uncommon opinion among the well-off). Housing supply is a major part of it, but the reason it is so resistant to a solution is because it is multifactorial with the factors all influencing each other. It's a wealth inequality problem created by the economic system favoring capital over labor, unreasonable local zoning restrictions, and also historical housing discrimination (redlining) which then feeds back into wealth inequality.