this post was submitted on 12 Aug 2023
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Equity was a fun choice of word here, since both its definitions apply to the conversation.
If housing wasn't an investment, a purchased home wouldn't build any equity in the financial sense, but people who need a home would have more equity in the social sense.
It's almost like finance is at odds with social justice.
Land is scarce. Trust in society and institutions is plummeting. If you tried to take away land ownership you’d face a violent revolution. Is there any way you can think of to preserve land ownership while making housing “no longer an investment?”