Okay that one was funny
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It's about deflating land prices, eventually to zero, while protecting our class through redistributing wealth and power. Appreciation is inexcusable though
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Would need a dramatic expansion of the safety net & other channels wealth accumulation for average people before a rapid deflation of land prices wouldn't come with serious working/middle class harm. Agree it's a critical long-term goal. But risky as hell in the short term.
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We make it essentially mandatory to climb onto the homeownership ladder (or else be a sucker and endlessly victimized), and when the ladder collapses, it's the least powerful who get fucked over Bad system, do not recommend
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I don't understand. If rents are doing reasonable things, why do we care about ownership costs, which can fluctuate based on lots of factors that don't depend on or affect the cost of providing shelter, e.g. interest rates, opportunity cost of capital, tax policy etc. ?
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Lots of people realize investments have risk. Let them sell short. Or use their cash to get out from under water. Or, just stay, pay the mortgage. Nobody protects my 401k equity if the stock market goes down. Why is real estate special.
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You can't live in a 401k
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