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.

I don't agree with the viewpoint precisely but god is this discourse a breath of fresh air

BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

as a capitalism toleratoor, I think its the most elegant solution. The carrying cost of real estate as an investment asset is too low, making it higher will force market to utilize the assets for its primary purpose first.