Re:Baby boomers are becoming homeless at a rate not seen sin...
by wyager on Tuesday September 26, 2023 @03:17PM
(#37664467)
Thankfully we have a mechanism for working utility-theoretic optimization into economic calculations. The mechanism is called "prices". When you undermine this mechanism, you are not globally utility-maximising.
My point here is that housing is not only a financial asset, and should be treated as more than just a financial asset. Or if you want to take an economic approach here, you need to come up with a utility function that more accurately reflects what we care about—we think that two people who have housing is a better situation than one person who has two houses and one person who has none.