this post was submitted on 20 Aug 2023
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[โ€“] [email protected] 1 points 1 year ago* (last edited 1 year ago)

Homes as wealth-creators.

Americans take it as received wisdom that homes are meant to generate income through higher valuations over time. We just assume home prices go up over time and if it's not actively increasing in value, the home was a failure.

Many other countries don't treat homes this way. They are dwellings, invest what you want to your liking, but it's not a retirement account.

This focus on wealth generation creates lots of perverse incentives, such as exclusionary zoning, building on lots that are overly large, and suburban sprawl. These don't reflect people's actual, desired form of housing but rather maximize wealth for homeowners at the expense of everyone else.

We have a completely warped view of housing that causes us to be preyed upon by real estate agents, landlords, HOAs and the like.