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I always get stupid @ replies, but when I tweet about landlords it's on another level. I can't believe some people have so little imagination they think if there were no landlords, we as a society wouldn't be able to figure out how to build housing or pay construction workers.
Meanwhile, in the society that we actually live in, housing prices have skyrocketed in the last thirty years while construction costs have remained relatively constant. Hmm...pic.twitter.com/Ypf2HRHBFJ
The direct correlation causing this issue is because of zoning laws and inability to build more housing to meet rising demand. Obviously it's property owners that demand the zoning laws. But in Rural locations, rent is usually just a bit higher than the mortgage cost.
We have plenty of homes, the problem is it’s more profitable to sit on an empty property or use it as an Airbnb than to actually let people live in it
Thanks NIMBYs
Notice the date at which the graph ends
Amazing that all these "Learn economics!" geniuses have never heard of Adam Smith, David Ricardo, or Henry George -- all of whom pointed out the same thing about land rent.
It's certainly not an excess of liquidity forcing tulip manias and panics in the housing market, ...oh wait...pic.twitter.com/VvUhNBGwWe
I first heard an infomercial story in the 1980's on TV at the cheapest time of the early morning, then the middle of the late morning / middle of the day on UHF, later all day on Cable channels. Now it's a genre on TubeYouzepic.twitter.com/nbh3lUJZXm
I do construction, and costs have not remained constant. I’ve been doing it for 40 years. That is a total fucking lie. What’s driving costs up is land cost and regulatory compliance cost.
As a builder, it's not landlords. It's land use regulations. Landlords allow apartment buildings to be created. Oh and construction costs are not constant. Rules are much more strict, time consuming. Labor is very expensive.
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