If you want to use homeownership as a wealth-building tool, you need to: A) build new houses, and B) help low-income people to buy those houses cheaply. That is the only way it works.https://twitter.com/dhmontgomery/status/1064542316713644032 …
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You can't ignore net growth, either. A lot of which will show up in land prices, AIUI. We've given up half of per capita GDP growth over the past century, per CT Hsieh, "Housing constraints and spatial misallocation". http://faculty.chicagobooth.edu/chang-tai.hsieh/research/growth.pdf …
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Should be past half-century, not century.
End of conversation
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