How about we have average Zer0 inflation over the years....
And we kick 10 or 20 million illegals out of the country, lightening the load on all of our transportation, energy, water and other infrastructure—and freeing up more housing at prices that’ll get more millennials out of their parents’ basement and back into the workforce.
Thought Control.
Why didn’t I think of that?
Commie pinko bastards....
The solution: Americans, together and all at once, would have to stop thinking about their homes as an investment.
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These Commies want to control everybody.
None of your f’ing business NY Times!
Fre markets to determine prices?
Why how very novel and anti Liberal.
Agree 100%.
The free market is the only equitable way to allocate resources.
I was thinking, I’ll bet it’s connected to all those White home owners who deserve to lose their shirts to better the lives of minorities.
Half a sentence in, “reduce inequality”.
Bam! These folks are so easy.
I’ve never seen racism as overt as it is today.
The left is doing it’s damnedest to turn this into South Africa.
I just looked up my house and the value has increased by over $3000 in the last 30 days. I guess it depends on where the house us. It has about 1600 sq ft plus a basement and on about an acre lot. Everyone says it is the best location in my neighborhood. I need to check with my insurance company to make sure it is fully covered.
From the article:
“According to them, a standard American home should cost around $200,000, a figure that includes the cost of construction, what land would cost in a lightly regulated market, and a modest profit for developers.”
I don’t what planet these “standard American homes” are located
The bottom line is far more people own homes at any given time than are looking to buy their first one, so rising housing prices benefit more people than they hurt. And more Americans have become rich though real estate than any other means.
This “LET’S PRETEND” story would be outstanding for a middle school class paper. The NYT is certainly improving.
Want affordable housing?
Cut the permit fees.
No kidding. I never got this mantra that rising asset prices, whether it equities, commodities, or houses, is a good thing. It’s not so great for new entrants. So instead of creating a system that benefits debtors, let the market decide.
Watch the investors who are buying up houses at 20% down and renting these houses out to alien invaders.
As the illegals are forced out of the country, the houses these landlords own will become empty, with no renters in sight.
This surplus of houses will become available to Americans looking for a home to buy, as the investors find they can no longer make the mortgage payments (upside down) on all the houses they own.
Lots of great comments and insight on this post!
I recently sold my little farm of 25 years and made a tidy profit that will tide me over until my other ‘investments’ are ripe for the picking.
I do not miss being responsible for a home AT ALL. I should’ve done this sooner, but I wanted to squeeze every dollar out of it on my way out the door.
I’ve bought, fixed up and flipped a lot of homes through the 20 years prior to that. It’s a young woman’s game and one I’m no longer interested in. At all.
Now I live in a smaller house (I rent) with 160 acres at my disposal. Life Is Good. :)
just like out of work liberal bureaucrats. it could be a good thing. :-)
Here in the SF Bay Area, large tracts of land are being set aside as unbuildable - forever, by the liberal left greenies. At the same time, liberal leftist politicians are screaming for building more affordable housing, wasting taxpayer dollars on building a few units that won't satisfy a pent-up demand for thousands of needed units. The two leftist groups are at odds with each other.
If they would let the free market determine housing, there would be lots of land to build affordable housing for the masses. But no, they take build-able land and set it aside for marshes for birds, hillsides for butterflies and frogs, etc., and there is no land to build on. And they encourage people to come in where there is no housing to be had. It's all madness.