well affordable housing in most countries with Anglo-rooted property systems generally requires public subsidy. Actually probably in most industrialized economic systems. I can't think of one that doesn't require it.
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Replying to @pt
The US, Canadian and British governments used to fund low-income housing at a federal level at a wholly different scale a generation ago, but then they wound down their programs or literally sold off public housing onto the private market. And then they altered their
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Replying to @kimmaicutler @pt
property taxation systems and zoning laws to make real estate a much more reliably higher returning asset class after the 1970s. And so it's the combination of the two... property as more of a speculative asset and lack of financial support for low-income housing together.
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Replying to @kimmaicutler @pt
these 95/6,000 odds are also a reflection of software technology too. There's now a single uniform online application for multiple properties at a single portal, which makes the odds look different than they would've been reported before.
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Replying to @pt
meaning... we shouldn't fund low-income housing, or what? It's a structural problem that has gotten more misaligned over the last 30 years. It was originally misdiagnosed in the 1970s and 1980s. It's a more fundamental issue with the way we treat housing health.
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how is it a bubble of affordability? we created a bubble of un-affordability using lots schemes that are hidden or subterranean in the US/CA tax code and then are trying to compensate for the consequences of those choices with very small, insufficient direct transfer programs.
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Replying to @pt @kimmaicutler
Honest Q: I still can't tell. Are you advocating against affordable housing programs, or saying it's tragic when they're under-funded?
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