Privatization and consolidation of houses as investments, instead of homes.
Comment on Housing prices
doingthestuff@lemy.lol 6 days agoYes our earning power is trash compared to the 70s, and I think there are more reasons for that than what you stated. But your answer didn’t really address why homes specifically have dramatically outpaced the general rate of inflation.
JamesTBagg@lemmy.world 6 days ago
qarbone@lemmy.world 6 days ago
Probably because land is one of the best non-fungible assets around. You buy land and you have something whose upper limit on price is only limited by what someone else wants to build on it. And premium space around existing economic centers (cities) doesn’t just spring up.