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Edited by Mrph1 on Nov 30th 2023 at 11:03:59 AM
Well, from my perspective, I would like to see the arrangements (such as the mortgage interest deduction) that drive the purchase of homes burned to the ground, for social rather than individual reasons. Because housing is a need and a very inelastic one, people who are not property owners suffer when property values are high - and conversely, there's a strong perverse incentive for homeowners to oppose cheap housing, especially public housing, because it drives down the value of their homes.
So as a society, we need to aggressively de-investmentize housing. However, so doing would be really, really damn tricky - getting rid of the mortgage interest deduction will absolutely nuke the market as it is right now, which in turn will cause another bank crisis as homeowners start mailing in the keys to now-devalued houses.
This fact is partly driven by our homeownership society. The value placed on homes raises the price of housing in general, including the price of substitutes for home ownership.
edited 28th Mar '17 7:11:14 AM by Ramidel
Yes, this is a critical problem. It would push vast numbers of current mortgages into unaffordability, causing a market crash that would make 2006-2008 look puny. Moreover, it would punish responsible homeowners as much as or even more than "irresponsible" ones, which was a major scapegoat used to deflect blame for the 2006 crisis.
It would also make existing homes much harder to sell, locking current homeowners into their properties even more than they are already.
edited 28th Mar '17 7:22:50 AM by Fighteer
"It's Occam's Shuriken! If the answer is elusive, never rule out ninjas!"As does insufficient house building. Apparently the US produces twice as many jobs as dwellings. Some places like California (and soon Florida, apparently) plainly don't have enough houses for all the people there, thanks to overzealous red tape and a dislike for high density housing. And the problem with changing that latter pattern is that it's difficult to replace existing housing.
"For a successful technology, reality must take precedence over public relations, for Nature cannot be fooled." - Richard Feynman
That is a problem. Honestly, what they need to do is attack the lower classes, first with bombs and rockets to destroy their homes, and then when they run helpless into the streets, mow them down with machine-guns. And then, of course, release the vultures. I know these views aren't popular, but I have never courted popularity.
The said part is, this is probably what the Republicans wish upon a star when they go to bed every Goddamn night.
edited 28th Mar '17 7:41:05 AM by kkhohoho
In terms of serious policy proposals, Jerry Brown did propose a major overhaul of planning procedures that would have stripped local authorities of most of their authority on the topic. Nobody in the California legislature was willing to touch this, although a newby state senator from San Fran is apparently trying again.
"For a successful technology, reality must take precedence over public relations, for Nature cannot be fooled." - Richard FeynmanEverybody knows that the most surefire way to make an accusation worse is to vehemently deny it at every turn. The proper way to deal with it is to meet the accusation head-on and counter with reasoned arguments and evidence. The way Trump's administration keeps blocking these hearings shows that there's something they're hiding, and they really don't want people to find out what it is.
US Supreme Court Rules in Favor of Death Row Inmate who is too mentally disabled to be sentenced to Death.
They also ruled that all states must use Medical Expertise when determining if a Person is or isn't mentally disabled, especially when the Death Penalty is involved.

There has been some push-back against it, however. Homes are supposed to be an asset, generating long-term equity value for owners, but as we saw in 2006, an excessive push towards home ownership can cause dangerous bubbles to form in real-estate, potentially wiping out trillions in personal assets and sending those same owners into a spiral of personal debt defaults.
Incomes have also not kept pace with home prices. Not too many decades ago, the average mortgage represented only a year or two of wages for the typical family. Now it's more like 4-10 years. And home ownership also reduces labor mobility. Renters can pick up and move without too much hassle, but a homeowner is tied to a limited geographical region unless they go through the significant time and financial burdens of selling. With the way commissions and other costs work, you're losing 7-8 percent of the value of your home whenever you sell it, not counting any repairs or improvements that may be needed.
My family moved to our current state of residence over nine years ago, and we have yet to sell the house we bought back where we came from. We refinanced at the height of the housing bubble and have only now managed to get above water on paper, and we still can't afford to pay the commission even if we managed to sell it "as-is". Short sale? Kiss our credit rating goodbye, and we may not even be allowed to given our income.
So it's not an automatic "always buy" thing. It can be good, but renting carries substantial benefits if you expect to be highly mobile or have not "settled down".
edited 28th Mar '17 6:33:39 AM by Fighteer
"It's Occam's Shuriken! If the answer is elusive, never rule out ninjas!"