This thread: https://twitter.com/SonjaTrauss/status/752954916633583616 … Its content is problematic, insofar as it endorses landownership
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Replying to @bufordsharkley @HenryKraemer and
Yes - I believe that black homeowners are entitled to have the same amount of house price appreciation as white homeowners. I’m not against homeownership.
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Replying to @SonjaTrauss @bufordsharkley and
House price appreciation is class war against tenants
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Replying to @peterjgowan @SonjaTrauss and
House prices moving in any direction have a profound impact on distribution of wealth bc of how deeply embedded it is in the American system and culture as a store of value, retirement tool, etc.
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Replying to @kimmaicutler @peterjgowan and
If they crash, lots of people end up underwater, foreclosed upon, credit ruined etc. with probably lifelong economic consequences, often stratified along racial lines as well.
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Replying to @kimmaicutler @SonjaTrauss and
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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Replying to @peterjgowan @kimmaicutler and
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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Replying to @HenryKraemer @peterjgowan and
You don't just burn the whole system to the ground, yes Baby steps: 1) Make renting safer and better 2) Advise young people to avoid striving for homeownership 3) Increase renter percentages throughout cities 4) Socialize land rents
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Replying to @bufordsharkley @HenryKraemer and
Right. I can't endorse Peter's approach because a version of that happened in 2008, and probably... led to 2016.
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Replying to @kimmaicutler @bufordsharkley and
I don't think Peter is encouraging a subprime mortgage crisis?
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Deflating land prices.... at what pace? For whom? How do you balance that out given part of the reason home prices got so protected was because they supplanted loss of pension/retirement security, etc. over the last generation?
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Replying to @kimmaicutler @bufordsharkley and
that's the reason socialist housing advocacy is embedded into broader multi-issue organizing around various aspects of the welfare state :)))
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Replying to @uhshanti @kimmaicutler and
Yes!!!
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End of conversation
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