American policy is mostly oriented around making housing more expensive as homeownership is our country’s primary wealth building tool in the absence of a more broadly diversified social safety net. https://twitter.com/Austen/status/1200427940229464067 …
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Not here to argue housing policy. Just noting that your problem statement about housing[real estate] as a wealth building tool is overarching truth. Yes it's a superstructure. I'm less pesismistic it can be substantively transformed. Either way we can't ignore it while debating.
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Not at the local level. Cities can’t control migration, who bids up the existing housing stock, etc. At best, the existing tools they have, like bonds and inclusionary, can extract maybe 1/1000th of the aggregate financial appreciation of the existing housing stock.
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