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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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.
End of conversation
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No we don't. Not at all. We have some of the lowest density housing in the world. Said differently, housing square feet per capita in this country is huge vs globally.
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Here in San Diego we have a vast number of ghost properties - that is to say they are owned but no one lives there; especially in the downtown condo market. Brand new high rises sit mostly dark. Empty old bungalows dot the old neighborhoods because the inheritors don’t invest.
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Overlaying the postwar experience in the US to the future makes little sense. We emerged from the war as a global hegemon, with 50% of "global GDP" with 4%+ of global population. Now 4.5% / 25% and declining. This is what the future looks like, IMO.pic.twitter.com/eD58QP2TrA
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Grandma and Grandpa move back in the lower floor--childcare problem solved, housing cost problems solved, labor supply problem solved, economic boom with low inflation, and social security problem solved. Need a change in mindset.
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“When Americans get rich, they purchase loneliness.”
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We struggle between escaping the tyranny of everyday interaction and soul destroying loneliness.
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tyranny of everyday interaction ---talking about the Fed on twitter=highest form of human satisfaction--- soul destroying loneliness
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If your friends don't want to debate monetary policy they aren't really your friends.
End of conversation
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That's called socialism. You're aware of that, right?
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