American cities will never be affordable until Americans come to terms with this fundamental contradiction.http://cityobservatory.org/housing-cant-be-a-good-investment-and-affordable/ …
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Replying to @kimmaicutler
@CityObs Interesting. When did housing come to be considered an asset? For most of history I'm sure that wasn't true.1 reply 1 retweet 1 like -
dunno, since enclosure laws of 16th century England? Or maybe humans have fought over land for most of civilized history.
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Replying to @kimmaicutler @CityObs
That would be land as property and as an asset, but as an investment would require rapid value appreciation.
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Seems like a strange concept as I think about it. You have to live somewhere, why would it be a good investment too.
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Replying to @sbyrnes
@matthewstoller traces housing-as-investment through 20th century US policy http://ir.lawnet.fordham.edu/cgi/viewcontent.cgi?article=2428&context=ulj …@kimmaicutler@CityObs2 replies 1 retweet 6 likes
thanks!
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