Zoning laws: yes, strong agree, but the bad guy there isn’t corporations, it’s NIMBYs. People with houses don’t want any development of any kind near them, and being residents they’re the ones who get to vote on it. They almost always vote no.
Foreign people buying land as assets is a thing. You know how you defeat that? Build more housing. If the value of the assets fails to rise, or even falls, then people won’t hold them as assets–and by dumping them on the market, they’ll further decrease the price.
Companies buying up houses to sell (usually after developing or refurbishing them) or rent is ECON101 in action.
If you can solve problem #1, the rest falls into place. But corner apartments overlooking the water in nice cities are still going to be expensive relative to other housing.
Zoning laws: yes, strong agree, but the bad guy there isn’t corporations, it’s NIMBYs. People with houses don’t want any development of any kind near them, and being residents they’re the ones who get to vote on it. They almost always vote no.
Foreign people buying land as assets is a thing. You know how you defeat that? Build more housing. If the value of the assets fails to rise, or even falls, then people won’t hold them as assets–and by dumping them on the market, they’ll further decrease the price.
Companies buying up houses to sell (usually after developing or refurbishing them) or rent is ECON101 in action.
If you can solve problem #1, the rest falls into place. But corner apartments overlooking the water in nice cities are still going to be expensive relative to other housing.
Thanks for the reply!
Yes, you are right about the residents.
Similar problem with homelessness, people don’t want shelters near their homes, so homelessness keeps being a thing.