I think the idea is that it locks them out of owning real estate.
Of course that opens the question: why should real estate be a continually appreciating asset? There are other countries where it isn't.
I think the idea is that it locks them out of owning real estate.
Of course that opens the question: why should real estate be a continually appreciating asset? There are other countries where it isn't.
> Of course that opens the question: why should real estate be a continually appreciating asset? There are other countries where it isn't.
Over time, real estate just is inflation - if it's more than inflation it eventually ends up infinitely expensive and unaffordable, if it's less than inflation it leads to cheap-as-free.
Arguably the second is more desirable from a human standpoint - but the first is where financialization leads us.
> I think the idea is that it locks them out of owning real estate.
How does urbanism lock people out of owning real estate?
It doesn't have to, but at least where I live, urban means apartments, and the great majority of apartments are rentals, not for sale.