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The problem with turning housing into the main financial instrument for middle class stability and a commodity for the wealthy is that it incentivizes protecting the value of the asset over…creating shelter.
I bet if you gave the man quoted the option to move out all of his kids and end homelessness, but his house loses the last decade of appreciation and will only go up in value maximum 3% annually, he’d never accept the trade off.
@gothamgirlblue Creating shelter is a big point.
Current average square footage is roughly 2300. In the 1960s that everybody keeps alluding to, the square footage was 1200.
Spacing between houses was smaller, too.
I don't know whether people would buy a 1200 sq ft house anymore but I do know builders are building them.
@Ralph058 @gothamgirlblue @LinuxAndYarn and I did. Can't imagine how ppl keep this huger houses clean
@gothamgirlblue NIMBY will be the death of us all.