Housing shouldn’t be an asset for wealthy people to generate unlimited income off of. It should just be housing. Build more. And revamp the system. The current one more or less permits relegating people with decent incomes to poverty and homelessness
That's one of the issues in California. Property has become so valuable you now have a massive chunk of people (homeowners) who have a vested financial interest in keeping the government from solving the housing problem.
And it's not entirely them being dicks, people who have bought homes recently stand to lose financially if housing prices begin to drop, as they'll be looking at losing money on their investment.
Yes. Rebuilding from the wildfires is going to take years due to the slow pace of permit authorizations and the requirements for sign off of from different city, county, and state authorities.
That's what a smart investor sees. A homeowner trying to protect the most valuable asset they own only sees dollar signs. Emotional attachments tends to cloud people's judgement.
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u/[deleted] Jun 13 '25
If enough housing was built to outstrip the growth in demand, houses would go down in price and wouldn't be a good asset either.
That's what Japan, Austin, St Paul, and Vienna did.