Comment on Housing prices

kandoh@reddthat.com ⁨2⁩ ⁨days⁩ ago

Housing is an investment, so the supply of housing is artificially constrained to ensure investments stay green.

For the boomers, the house they bought was an equity vehicle designed to keep them out of poverty in their old age.

There’s also the issue of you, reading this this comment, who doesn’t want a condo or townhouse but a very specific home with a driveway, lawn, and backyard with lots of privacy. The most costly property to provide services and infrastructure for and is crippling every city’s finances for the past 50 years of white flight.

The private corporations buying homes are basically a rounding error. Human desire at scale is what’s doing this to us. Everyone wants a life sold to them as ‘normal’ by Madison Avenue executives in the 50s.

While we’re here, it’s also not data centers killing the planet - it’s billions of people who want to eat beef every day.

source
Sort:hotnewtop