cryptoleft

There is no American “housing crisis”— there’s a supply-hoarding crisis to rig local market prices above the liquidity of local buyer capital. 

The policy solution is simple: poison-pill tax all non-occupant-owned housing to force immediate sale to local buyers at actual market rates.

Allowing unlimited non-local capital to supply-hoard vacant housing is simply anti-resident eugenics. Current residents are too poor, so replace them with richer ones— even if it causes widespread homelessness, forced migration and absurd energy costs for the displaced to commute. It’s as discriminatory as Federal Housing Administration redlining of black neighborhoods in the 1940s.

Chocolate rainmaker. Singer. Thinker. Voice

in the US, a lot of people are banking on the equity of their homes to retire. it's not a good practice but nonetheless is a thing. 

if you tank property values, that will mean a generation of broke senior citizens!

and for what? IMO home ownership shouldn't be needed to build wealth