When cities don't build housing at a rate that matches their population growth, the cost of housing increases. When the cost of housing goes up, the poor (who rent) get poorer, and the rich (who own) get richer.
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Building sufficient housing in cities is in one of the most progressive things cities can do. Opposing new housing is one of the most regressive positions there is.
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The fact that the cost of housing in cities is growing faster than middle/working class income growth (due to artificial supply constraints) is one of the greatest threats to the prosperity of the middle/working class and one of the biggest drivers of inequality today.
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My parents would rent a house for 5 to 10% of their income. I'm lucky if it's 30% but most cheap houses are 50% or more!
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Letting people with houses decide whether more houses are allowed to get built, and therefore whether other people get to live in a house, is so crazy it's beyond parody
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Agree with this, but the building more housing soln is very US centric. In some of the developing world, demand in some cities is absurdly high- can’t fix it by building more housing or making the city bigger (tho we keep trying). You need more cities (i.e., opportunities)
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The middle class is the backbone of a healthy economy. In many societies, it has been eroded, rising populism with a “fall of Rome” feeling Increasing inequality leads to a new type of feudalism; possibly avoidable. The great resignation, 躺平,
#gameB,… are reactions against itThanks. Twitter will use this to make your timeline better. UndoUndo
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Suburbs are a great Ponzi scheme. Unless a city is growing, aging infrastructure means higher property taxes. Building freeways contributed to global warming. America is no role model for the world.
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