Elizabeth Warren's YIMBY plan: 1. Block grants to cities that reduce zoning restrictions 2. Subsidies for affordable housing 3. Down payment assistance to help poor people buy houses 4. More policing of lending discrimination https://www.theatlantic.com/politics/archive/2018/09/elizabeth-warrens-fix-americas-housing-crisis/571210/ … I like it.
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Generating wealth via rising home prices is not helpful. Otherwise you suggesting that people can't save except thru home equity?
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Did you read our post?
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Yes, I did. Need to increase financial literacy and encourage responsible investing. Plus, government can offer subsidized higher rates on small savings accounts--financed with getting rid if mortgage deduction!
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I mean, if we could use social wealth funds investing (partly) in real estate as a substitute for individual homeownership that would be amazing. But can we? In the meantime we need more houses in this country.
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Agree. I will start a separate thread on this.
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I mean, there are more dramatic, transformative things we could do. LVT (big tax on real estate capital gains with exemptions for development) to fund SWF (which invests partly in real estate). That would require a big overhaul of our system but it would be great.
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Garbage article. Banks were mandated to provide loans to the poor & the policies you are advocating sowed the seeds of the housing bubble. Vanguard/Fidelity provide almost zero cost funds. Wealth confiscation & death taxes will just change people’s behavior to get around it.
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Does the state exist to make people wealthy?
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There must be more preferable forms of wealth than home ownership. Houses are the wrong asset to become defacto pensions in my opinion. They're not Dutch Tulips - unwitting people's livelihoods depend on them.
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That’s not wealth from labor or management. Equity and social contract currencies (non-commodity money) are human made. It’s just a bad deal. Below may be an alternative social contract.https://twitter.com/nickcarduccii/status/1053675440962002946?s=21 …
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are there really no examples of society's where people can build wealth without homeownership?
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Forced saving thesis with DTI capacity for poor people is limited to ownership because its some what more expensive to own a home in the long run if you're poor.
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UBA: Universal basic assets
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