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Tay Zonday
@tayzonday
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.
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Stuart
@olystuart
This is true but it really means there is a capitalism crisis. Because you're never going to be able to convince our capitalist government to do a reform that takes power away from the capitalists who own the government. The only housing reforms possible in a capitalist party like the Democrats are going to lead to more profit for developers and finance corporations. Kamala is appointing BlackRock executives, she's going to help them buy all our houses after we're evicted, no matter what they say on the campaign trail.
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Leeward Bound
@leewardbound
tay zonday posting le bangers on farcaster in a leftist channel we live in such a beautiful time
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Max Jackson
@mxjxn.eth
👏👏👏👏 YES x 1000
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Catabolismo
@catabolismo
I see the housing crisis as a specific symptom of neoliberal capitalism, as it appears spontaneously in all contemporary financialized urban economies. Probably has to do with the need of capital to find a hard asset to flow towards, that the fiat system officially lacks.
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Grit, إنشاءالله.eth pfp
Grit, إنشاءالله.eth
@grit
How about just build more houses? And reduce regulations against NIMBYs
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Metaphorical
@hyp
Love to hear some thoughtful voices chiming, quick question: wouldn't that crash the housing market? Maybe softer landing for current homeowers who would get hurt? What's an option there? 888 $farther
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lawrenceroman.eth
@lawrenceroman
Agree with you on first point, see link about Blackstone below but disagree on the policy solution, obviously the Blackstone article proves your point Owning a home can always be the American dream but it’s not for everyone, so you poison pill to force investors to sale to locals it’s a bit far fetch because you are assuming that most locals would afford to buy homes at market rates? that’s wrong. I don’t know if you have any experience or data in real estate development in distressed areas. There are a lot of distressed towns in America in need of private capital to turn them around. I worked in the design districts of Miami between 2008-2010, the Uber fancy neighborhood you see now took a lot of private investment to be what it is now. My generation Z daughter used to throw around the word “gentrification” as a negative until explain to her nobody would enjoy the Soho, Brooklyn or Bronx of the late 80s. https://finance.yahoo.com/news/blackstone-raised-rent-prices-double-115500983.html
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Ben - [C/x]
@benersing
So a centrally planned communist style housing market?
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cqb
@cqb
May I introduce you to the land value tax: https://www.astralcodexten.com/p/does-georgism-work-is-land-really
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Royal
@royalaid.eth
Would this be different than a residential land value tax?
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Robotandkid
@robotandkid
no that's only half the story. if you go to Florida, for example, there isn't enough housing to go around. builders can't build fast enough. and that comes down to regulations. often what happens is that existing neighborhoods don't want new housing so they regulate housing out of the market
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Robotandkid
@robotandkid
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
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ashesfall.eth
@ashesfall
The problem is that a lot of other things depend on real estate. This is an interesting idea, but if you executed it my personal guess is that the resulting crash in the assets that people are holding in brokerage accounts (while waiting to someday buy a home) would leave them just as far away from it as they are now.
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agrimony↑🎩
@agrimony.eth
SG charges up to 36% tax on non-owner occupied residences for the annual market value of what it *could* be rented out for This is just for the property tax, there is also income tax on the actual rental income
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Sean Wince 🎩
@seanwince
Very well said. 1025 $farther
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billyTRILLions
@billyshipp
Yo you’re p good at this
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Terry Bain
@terrybain
Solid solution. +1
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Sabato🎩
@sabato
YES! Tho it also seems that there’s a deep lack of housing development caused by shitty single-family housing zoning laws, reactionary NIMBYism, and a general disincentive to build anything that’s not luxury apartments for outside money laundering.
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