this post was submitted on 13 Feb 2024
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askchapo
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I like it because it cuts to the crux of the issue.
Housing has slowed down in building and housing demand has climbed up while supply stays low. Not to mention that capitalism has made a whole lot of different housing types illegal, betraying its own free market principles for the sake of investors that never do anything useful. From a capitalist standpoint, it would be one thing if investors funded housing projects to be built and took a cut of a landlord's rent because their investment made that project possible. But real estate investing is even worse. Buy house, do nothing, maybe stop all new housing from being built, and thanks to economic crisis after crisis, your house quintupled in value. How sell it, rinse and repeat. No new wealth is created, no problems are being solved, no one is even getting a delicious pizza in the shape of Garfield's head. You just get money for being lucky enough to have stuff.
I do think that we need a housing Stalin in order to build fucktons of more housing. If that means the entirety of the Bay Area becomes Hong Kong 2, then so bet it.
Socialism: it will get you out of your parents basement.