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this post was submitted on 24 Aug 2023
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Food is also a basic human need, and markets seem to work well-enough for that. The core difference is that, while we have an extreme abundance of food to the point of waste, cities have been underbuilding housing for decades and there are far more people wanting to move to them than available housing units, so only the richest people get the housing. This puts a lot of positive pressure on housing prices
That's because it is easy to compete to sell food. Housing doesn't work that way.
It's not just cities, but I otherwise agree.
Agreed, but there's a lot that could be done to make it much much easier. For nearly a century, housing policy has been explicitly designed to make housing a productive asset for investment, which is a goal that's fundamentally opposed to housing being affordable.
Agreed. Housing is a right, a basic necessity, not an investment vehicle.