That “investment” opportunity wouldn’t exist if Amsterdam just builds enough housing
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Replying to @thijsniks @helenasometimes
Bullshit, residential property prices increased in my neighbourhood 20% over the last 5 years. And I live out east in Arnhem.
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Replying to @adrianegger @helenasometimes
Maybe Arnhem should build more too?
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Replying to @thijsniks @helenasometimes
The problem isn’t the availability of housing — we have a lot of construction going on. It’s that people are making a shit ton speculating on the value of residential property, and nobody wants to see prices fall at any point. Not owners, not banks, not pension funds investing.
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Replying to @adrianegger @helenasometimes
I don’t know enough about Arnhem, but the Randstad definitely is not building enough. But I think you’re pretty close to the truth with owners and banks not wanting to see prices go down, so lots of folks prefer to err on the side of not building enough.
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Replying to @thijsniks @helenasometimes
Absolutely. Those two are def related — but the shortage is probably caused by people wanting to making more money by profiting from said shortage. That’s what I meant by allowing people to use housing as an investment vehicle: it screws people who -need- a house to live in.
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Replying to @adrianegger @helenasometimes
I really doubt that investment thesis though. Seems like to should be easy to verify whether people are buying and keeping houses empty in order to speculate
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Replying to @thijsniks @helenasometimes
Why would anyone keep them empty? The idea is to put money into housing, then restrict supply to bump value.
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Replying to @adrianegger @helenasometimes
Right, so the problem is that we are not building enough instead of the speculation part
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Replying to @thijsniks @helenasometimes
Haha not building is the restricting supply part
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Exactly. Either supply is restricted by keeping houses empty or we don’t build enough
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