I haven't read the article in question (can't find the link), but this seems more or less exactly like the line taken against subprime borrowers: it's not the fault of the sellers for engaging in moral hazard and taking risks, but the buyers for...uhhhh...reasonshttps://twitter.com/SpencerHeckwolf/status/1349056480717189124 …
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Who doesn't expect any investment to provide a return? Developers can invest in housing at their own risk. If we allowed developers to build homes on a large scale, some would make money, others would not.
Right but, it's not just about volume, it's about the nature of the investment. Not all housing is an equal investment. Housing for the poor, for specific demographics etc. will tend to take on the character of a qualitatively different type of investment that is less appealing.