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Giuliano Giacaglia
@giu
Same vibes!
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Michael 🎩🐹
@michaelsullivan
Love it but gotta disagree. More people, less housing per person and we’ve commodified housing where people own multiple homes which drives up prices.
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Fidel Ramos
@framos.eth
And who is at fault for less housing per person? Mostly NIMBYs and existing owners who push legislators to limit construction. Check out this Econ 102 podcast: How We Build More Housing with Brad Hargreaves https://www.podpage.com/econ102/how-we-build-more-housing-with-brad-hargreaves/
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Michael 🎩🐹
@michaelsullivan
Correct, but at the end of the day it's the elected representatives that pass the laws. If they're passing laws based on a small % of the vocal minority then they're bad at their job.
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Michael 🎩🐹
@michaelsullivan
And in regards to the meme, I think the house actually is worth less if we were to pass a law that taxed second properties at 100%. There would be a flood of homes for sale and within a year when the dust settled we'd see the "actual" value of homes.
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Fidel Ramos
@framos.eth
I say don't tax, just don't artificially restrict the offer side. A free market would make housing much more affordable for everyone. The problem is that a lot of people have most of their wealth invested in their homes and real estate, and they don't want to lose.
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Michael 🎩🐹
@michaelsullivan
And I disagree. Mom and Pop "investors" in CA alone own over 10% of the housing supply. We have no idea how many families there are in CA and how many single family homes. We don't know if we actually need more homes and won't until we outlaw owning more than one home.
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Fidel Ramos
@framos.eth
Investors wouldn't buy real estate if there were no demand, they don't want empty buildings. You don't need to figure out demand, the free market takes care of matching it to offer. If you attempt to central plan, like it's done today, you get worse results most of the time.
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Michael 🎩🐹
@michaelsullivan
Exactly. Becoming homeless in Los Angeles immediately cuts 20% of your lifespan. No one wants to be homeless, especially if they have kids. People will pay 100% of their income if it means their child has a home to sleep in every night that's safe. That's why it's so easy to manipulate prices.
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Michael 🎩🐹
@michaelsullivan
I can buy homes faster than anyone can make them, and since I can only live in one home at a time, I'm literally creating false demand for housing, driving up the cost of housing across the board.
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