This funnels even more capital into real estate as an asset class. Or it's an intermediate step to Georgism? https://twitter.com/bhorowitz/status/775768751941623808 …
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Replying to @kimmaicutler
capital already flows into real estate, just in the form of debt. equity is far better for owners than debt.
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Replying to @cdixon
housing prices were/are constrained by income/access to debt financing.
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Replying to @kimmaicutler
my personal view is we'd all be better off with considerably less debt financing
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Replying to @cdixon
I agree, but many things that ppl tend to believe improve efficiency in housing mkts are often ultimately negated bc they
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Replying to @kimmaicutler @cdixon
just get capitalized into land or asset values.
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Replying to @kimmaicutler @cdixon
I should be more specific. Things that people tend to believe will help with housing *affordability* get negated bc capitalization
2:48 PM - 13 Sep 2016
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