Comment Re:The usual cause... (Score 0, Redundant) 174
Hard to believe your post got 4 upvotes. It's full of vaguery, incompleteness, jumps in conclusions, ignorance and just being wrong.
"Private rental markets drive up property prices for everyone & make rents unaffordable"
-Private rental markets can drive the property prices in both directions. If you reduce regulations, builders will build more housing resulting in more competitio and lower rental prices. So your vague statement is incomplete, jumps to conclusions and ultimately incorrect.
"It raises the prices of everything else in order to service the unreasonable demands of property owners."
-What? So the chocolate bars at my local gorcery store are going to go up in price to service property owners? Did you even read what you wrote?
"Basically, the "landed rich" sit back, do nothing, & watch the money roll in"
-Sit back and do nothing? They had to earn their investment money, they had to do work to identify the property/land they wanted to buy, think about how it might be profitable or not, risk their investment money, possibly make house & thus neighbourhood improvements, pay taxes, pay for all kinds of permits and abide by gov regulations, search for a tenant that isn't going to destroy all that, and then provide housing for somebody who otherwise couldn't afford to buy one. Sometimes the capitalists work much harder than you do, and nearly always risk their money in ways you're unwilling to. You're basically looking at a winner and claiming he just got there at the last second to cross the line and did nothing to deserve it. Check your ignorance!
"Most economists regard rent-seeking as a bad thing: https://ancillary-proxy.atarimworker.io?url=https%3A%2F%2Fen.wikipedia.org%2Fwiki%2F... [wikipedia.org]. "
-Pretty sure that article doesn't cite "most economists" for starters. Secondly, the article is kind of a left leaning pile of garbage I don't even want to waste my time arguing against. It's imediately obvious in the first paragraph when they accuse "manipulation of social and political environment", "not creating new wealth", "reduced economic efficiency", lost government revnue (like What?!)
"What we're seeing now are the results of decades of deregulation & governments abandoning public housing responsibilities."
- Did you wake up in opposite land? What we're actually seeing is the results of decades of EXCESSIVE regulation, preventing more house building, which would solve a huge part of the high priced housing problem. What's happened is the government created so many rules, only the richest can afford to abide by them all and rule the land so to speak.
"Building more houses won't reduce prices because housing doesn't work that way"
- HahahahahahahahAHAHAEHHAhAhA How can anyone take you seriously after a ridiculous statement like that? The foundation of markets is exactly all about supply & demand. It's how price discovery happens. Did you even take Econ 101?
Utter nonsense. Go back to school.
