Vitalik Buterin pfp
Vitalik Buterin
@vitalik.eth
The voters banned banning banning banning charging too high rent. (To be clear I'm in favor of this, the best way to keep rent low is buidl buidl buidl)
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J. Valeska 🦊🎩🫂 pfp
J. Valeska 🦊🎩🫂
@jvaleska.eth
(To be clear I'm in favor of this, the best way to keep rent low is buidl buidl buidl) - I think this is not true when applied to finite space and resources liike capital and land. Something different when you have 2^256 slots, theoretically endless, then buidl, buidl, buidl.. :) allocating extra capital on buildings would lead to superproduction crisis while not solving renting costs.. why? vulture funds (and banks) will retire other buildings of the market to decrease the supply, increasing prices.. while all these new buildings will end empty.. this is what happened and is happening in spain.. after the called "crisis of the brick", we have enough empty buildings.. and, we have a problem with touristic renting, this is more profitable and it is decreasing the supply for neighbors with medium/lower incomes.. so, renting control is necessary at some point to control this.. or we are going to have to live in other city to allow tourists 3 months in the year (not in my city, tho, here is cold, so cheap)
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Vitalik Buterin pfp
Vitalik Buterin
@vitalik.eth
Cartels only work when there is a finite pre-existing set of actors that need to collude to make the cartel, with no possibility of free entry of new ones. So buidl buidl buidl is actually the easiest way to accomplish this. There will be downtown areas where space is actually limited because even 3D has limits, but that's fine, that's the premium space. Empty buildings are not a crisis, empty buildings are good, they're spare capacity. Basically, we want to do to the housing market what everyone thinks capitalists do to the labor market (push rates down to subsistence level by flooding it with supply).
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J. Valeska 🦊🎩🫂 pfp
J. Valeska 🦊🎩🫂
@jvaleska.eth
problem is when all the city becomes premium space, like renting in Madrid or Barcelona, even out of the city, is becoming very expensive yeah, this supply flood strategy would work if banks and funds were not the owners of 90% of these empty buildings, they have them out of the renting market, so they are not supply (not for renting, not for sale).. this is why just build does not fix it and the govs should do something on top of that, like renting control or forcing these buildings to be rented instead being just empty.. meaning we already have more buildings than we need.. but they are out of the market.. 🤔 and they have incentives to continue doing this.. aside, one thing that could break this (and it is very exciting) is printing 3D homes, still early tech but could be the future and disrupt the market
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Kaplan pfp
Kaplan
@kaplan
That’s an interesting take! We already have so many empty apartments and store fronts in NYC, is there some kind of nexus point where building starts suppressing prices even with deluge of available units? Also, with population growth stagnating, wouldn’t this be put on steroids in the near future if rates drop?
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Adam Stallard pfp
Adam Stallard
@adamstallard.eth
> empty buildings are good, they're spare capacity. This is true to a point because we can't perfectly predict demand, so having a buffer is helpful, but did you say Georgism? 👍 Let's do it, but in a better way using blockchain.
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