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I really hate this “we don’t build enough housing” narrative these days, because it implies this is a simple supply and demand problem, which it is not. I see s
by LastTrain 3mo ago
I really hate this “we don’t build enough housing” narrative these days, because it implies this is a simple supply and demand problem, which it is not. I see so many progressives repeating this line, apparently not understanding that they are suggesting unfettered capitalism (up zoning…) is the solution.
The fundamental problem is we simultaneously want our housing to be affordable and good investment. It can’t be both.
- antinomicus 3mo agoPublic housing is the answer to this.
- heroiccocoa 3mo agoI can't think of a good reason as to why people would want housing to be a good investment except if their own wealth depends on it or they want to preserve the wealthy character of their own neighborhood. It takes away investment from local enterprise, local government, which would spur innovation, salary growth, better infrastructure, municipal services, etc.
- patmorgan23 3mo agoFor the average American homeowner 25-50% of their wealth is in their home.
- rainsford 3mo agoThose aren't really two different arguments. Wanting housing to be a good investment is one of the reasons we have a supply problem because it incentivizes people to vote against allowing more housing to be built. But at the end of the day the high cost of housing really is a simple supply problem, it's the reason for that lack of supply that's more complex.
- LastTrain 3mo agoMaybe you can point me to a recent example in the US where more housing was built resulting in a noticeable decrease in housing costs. And a good investment is one where the value increases faster than inflation, the math doesn’t work.
- fragmede 3mo agoAustin. They built a ton of apartment buildings so rent is down.