Comment on Housing prices
stickyprimer@lemmy.world 1 week ago
Among many other things, people now vote in local elections according to “what will be good for my property value” and this often (usually) doesn’t mean making more affordable housing available. It’s a very specific case of NIMBYism. Luxury condo building with 15% affordable units? Not where it will affect my property value!
jumping_redditor@sh.itjust.works 1 week ago
It’s completely logical, if most of your wealth is in your home you want it to keep it’s value so you can move somewhere else if you want.
stickyprimer@lemmy.world 1 week ago
If “most of your wealth is in your home” you don’t have any wealth. What you have is an asset that has been made artificially scarce. It doesn’t help you at all unless you want to move to some area that doesn’t have as much artificial price inflation. However it does hurt your community significantly by making housing unavailable.
People need to think of their children, nieces and nephews before they go calling this selfish short-term thinking “completely logical.” If it’s logical at all it’s in a very narrow way to only a narrow group of people. Nothing “complete” about it.