Inflation-adjusted home prices in China have fallen below where they started two decades ago, and the fiscal fallout is hitting local governments even harder than developers.
“Although a drop in housing prices would provide a reprieve to those who do not own, the fundamental structure of housing as a commodity is the greater beast that must be defeated”
Now, that’s true, I’m 100% on board.
I do feel like people sometimes let perfect become the enemy of good. “The homeless guy doesn’t need a handout, he needs a job”, they mutter as they walk on by.
If you wanna think that long term, I actually don’t think you’ve gone far enough. Government supply initiatives? A start, but still a bandaid. Massive increasing tax rates on multiple ownership. Cap on residential property that can be owned by Corporations. Rent controls. Pull no punches to establish that housing is not a viable speculative investment. You build to sell to people who will live there.
What about the equity you’re about to decimate? Government needs to get back big time into the pension game. Big time. How will I live? Eat? Get medical care as I age? Needs a fix.
Until those broad changes occur, I’ll still be cheering every dip.
Ok, I can accept what I think I just read:
“Although a drop in housing prices would provide a reprieve to those who do not own, the fundamental structure of housing as a commodity is the greater beast that must be defeated”
Now, that’s true, I’m 100% on board.
I do feel like people sometimes let perfect become the enemy of good. “The homeless guy doesn’t need a handout, he needs a job”, they mutter as they walk on by.
If you wanna think that long term, I actually don’t think you’ve gone far enough. Government supply initiatives? A start, but still a bandaid. Massive increasing tax rates on multiple ownership. Cap on residential property that can be owned by Corporations. Rent controls. Pull no punches to establish that housing is not a viable speculative investment. You build to sell to people who will live there.
What about the equity you’re about to decimate? Government needs to get back big time into the pension game. Big time. How will I live? Eat? Get medical care as I age? Needs a fix.
Until those broad changes occur, I’ll still be cheering every dip.
I had a feeling we were only disagreeing on the means not the ends.