@pluralistic I've previously mentioned Bernhard J. Stern, a largely-forgotten mid-century sociologist with a famous research assistant.†
Stern's 1937 article "Resistances to the Adoption of Technological Innovations" addresses housing specifically:
When recently the mechanized industries, particularly in metal, entered the housing field with the production of “prefabricated houses”, they were met by the resistance of property holders, especially of the banks, who hold mortgages on about 58 percent of all 1933 value of all urban real estate, and who fear that an influx of cheap modern dwellings would subtract substantially from the market value of existing structures. These banks and loan companies have been unwilling to finance prefabricated houses except in rare exceptions and then on a limited basis. ...
Planned public housing projects such as slum clearance which afford the most efficient methods of utilizing advanced technologies in the building industry, crash against the wall of vested private-property interest. They meet the combined opposition of the owners of obsolete buildings, that nonetheless are still profitable, of landowners who demand prohibitive prices, of holders of mortgages who fear a depreciation of housing values through the increase in available homes. Achievements in building technology lie sterile in the face of the opposition of these interests.
https://archive.org/details/technologicaltre1937unitrich/page/39
(I've re-typed the paper for easier reading / formatting in Markdown: https://pastebin.com/raw/Bapu75is)
Sound familiar?
Notes:
† Isaac Asimov.
#BernhardJStern
#capitalism #AssetAppreciation #EconomicRents
7/