“Homeownership is a gerontopoly.... Homeownership isn’t making younger generations wealthier. Rising real home prices effect a transfer of wealth from younger generations to older ones.” http://cityobservatory.org/gerontopoly-homeownership-wealth-and-age/ …https://twitter.com/l__macfarlane/status/994144963997904896 …
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Agreed... so by definition, nobody will be able to afford so supply > effective demand... the pendulum is bound to swing the other way. City centers were the worst in the mid 60's to mid 80's... don't you think we might be headed back to that?
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It took a giant federal program that financially incentivized white Americans to leave cities after WWII and an abundant supply of land with access to jobs that hadn’t yet been priced in for residential use. Sooo....
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Trusts with lobbying arms to preach the virtues of low density and terrible traffic.
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We keep thinking "this can't go on forever" but it definitely can. Look at property costs in London for where we could easily end up.
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