Exactly. Elevated land values suck up surplus cash that would otherwise have gone to wages, increased production, and lead to other societal benefits. Good housing policy addresses this by first and foremost reducing land values.
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To increase housing supply you need two things (one of which you already mentioned): 1. Relax land-use restrictions. 2. Financial incentives to counter lack of or under-development.
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“the annoying thing” is a pretty milquetoast reaction to policies that not only reduce GDP but also directly inflict so much human harm
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Are you sure that bad housing policy as practiced in the US elevates land values. Certainly it elevates housing prices, but that's not the same thing.
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the correct statement is it depresses land values versus the counterfactual and allows incumbents to capture most of the incremental wealth of increasing values.
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(bad housing policy depresses land values)
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If we stay out of politics, politics will come and bite us back. Good or bad politics affects our lives. Sooner our generation realizes it’s better.
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A permanent increase in the growth rate sounds more impressive than a dollar amount.
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If I want to build a monstrous skyscraper on my land, I should be allowed to do that, subject to some basic standards on safety- today the whole neighborhood/city gets to decide this- an assault on property rights and freedom
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Hmm
not sure on this one - 3 more replies
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