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it's happening in almost every major city Agreed. Here, for example, is an excellent article about these effects in Portland, Oregon: http://www.invw.org/cash
by gammarator 11y ago
it's happening in almost every major city
Agreed. Here, for example, is an excellent article about these effects in Portland, Oregon: http://www.invw.org/cash http://www.invw.org/cash
- _yosefk 11y agoWidespread building restrictions limiting supply and huge subsidies for those holding financial assets ("QE") together with low yields caused by near-zero interest rates fueling demand will do that. (How it will end I can't imagine. I'm amazed at how calmly people are taking it, and at the kind of countermeasures they propose (usually rent control or other foot shots.))
- tormeh 11y agoQE is just a handout for private individuals who sell government bonds on the second-hand market; it doesn't really have anything to do with real estate. But yeah, near-zero interest rates right now and borrowing costs being tax-deductible contribute to housing bubbles.
- tonyedgecombe 11y agoYes, I'm not sure why we let landlords expense mortgage interest but not home owners (in the UK) but it would be a good idea to get rid of this loophole.
- wmil 11y agoWhat gets me is that the problem is very easy to solve. Bring in property tax brackets, increase the top rate.