(Policies that were dependent on a large, previously untapped supply of cheap land converted to residential use via a combination of newfound mass automobile access & public highway infrastructure + backdoor homeownership financing that no longer exists because it's priced in.)https://twitter.com/Spacekatgal/status/975170790231629825 …
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Agree that Gov financing of roads (THAT CONTINUES TODAY) facilitated sprawl, suburbs, and "flight to nice neighborhoods." Disagree with the 2nd part since Gov can impose a 75% cap gain tax on real estate sales of NON-personal residences & house prices will become more affordable.
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... and the postwar political consensus is gone, making impossible any bold public policy.
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Increase density. Build upwards.
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Building upwards so that landlords and developers can make even more money (while current residents get more congestion) isn't a solution unless: (1) the new occupants get equity in the land/building,& (2) landlords/speculators are heavily taxed on their land/housing investments.
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Sure it can. If you make a leveraged, undiversified, investment don't come crying to uncle sam when it doesn't work out.
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