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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Replying to @kimmaicutler
Spot on, Kim. Which is reason for great deal of the trepidation from housing justice advocates about the deregulation and build, build, build movement without any linked agenda for affordability, price restriction, decommodification. Really, this may be an Ah Ha Twitter moment.
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Replying to @pcohensf
Local municipalities don’t have control over this superstructure. To get a small # of decommodified units with ~1% lottery odds, groups effectively choose to sacrifice the region’s middle class housing stock as everything reverse filters w inadequate unit production vs pop growth
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Replying to @kimmaicutler
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.
2 replies 0 retweets 3 likes -
Replying to @pcohensf
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.
2 replies 0 retweets 9 likes
If anything meaningfully changes it in the long-run, it’s probably climate change TBH bc housing won’t predictably hold or maintain value as well and there may be mass internal/domestic migration.
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