Gregory's Server@Christo @QasimRashid Not just super rich. A lot of just rich and a lot of non rich who vote GOP and got sucked into trickle down theory.
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2 comments
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Top-level
@Christo @QasimRashid Not just super rich. A lot of just rich and a lot of non rich who vote GOP and got sucked into trickle down theory. 2 comments
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@tmstreet @Christo @QasimRashid Well making the place you live in into a ponzi scheme investment that's such a huge part of the economy that we can never allow prices to become more affordable ... isn't going to end well.
Young people (and early middle age people!) mostly rent.
Even when I had the money, and I'm relatively privileged, "investing" in the housing market always seemed utter madness.
Nowadays, after 5 months unemployment, and 6 months last time, the reality is as somebody with niche skills I'm going to have to rent for the rest of my life.
Arguably it isn't a lack of supply. Comparing the UK housing market to other countries with much lower rents and house prices, supply is similar. Though it may not be ideally distributed.
So the argument is that rent controls could solve the housing crisis. Prices would fall, landlords would sell out, government could cheaply buy up rented homes and rent them at social rents. But a lot of people would be in negative equity, and banks would look very shaky.
https://www.theguardian.com/lifeandstyle/2024/mar/19/end-of-landlords-surprisingly-simple-solution-to-uk-housing-crisis
@tmstreet @Christo @QasimRashid Well making the place you live in into a ponzi scheme investment that's such a huge part of the economy that we can never allow prices to become more affordable ... isn't going to end well.
Young people (and early middle age people!) mostly rent.
Even when I had the money, and I'm relatively privileged, "investing" in the housing market always seemed utter madness.