Re:I live in my car: Parking lots open for those who can aff...
by Sakos on Sunday October 22, 2023 @02:09PM
(#37977675)
Which leads to the real problem. People have been treating real estate like an investment for decades now. You're essentially going to wipe out the wealth of all the middle class by doing so, so you're up against an immovable wall of political incentive for the current system to persist.
When two things happen concurrently, it can be hard to tell cause and effect apart.
In reality, real estate speculation is driven by the simple fact that prices always go up, making it one of the best investments there is for those with enough cash.
If you legalize massive housing construction, housing prices will start going down, and the speculation money will have to go elsewhere.