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comment by dublinben
dublinben  ·  2491 days ago  ·  link  ·    ·  parent  ·  post: Homelessness up 26% in LA YoY, 10% in Seattle , *61%* among LA youth

There simply isn't enough housing being built in population centers. The price of real estate housing shouldn't be increasing at double digits compared to wages or the rest of the economy.





steve  ·  2491 days ago  ·  link  ·  

there is ZERO incentive to build affordable housing.

b_b  ·  2491 days ago  ·  link  ·  
kleinbl00  ·  2491 days ago  ·  link  ·  

This played out in my old neighborhood.

1) Build high-rise partially funded by tax incentives for section 8 housing

2) Fail to sell condos

3) Argue that the business model didn't work, everything needs to be apartments (no section 8)

4) City refuses to give occupancy

5) Developers sue city

6) City settles, condo becomes apartments, no affordable housing.

kleinbl00  ·  2491 days ago  ·  link  ·  

It's almost like we need to tax capital gains more aggressively or something.

OftenBen  ·  2491 days ago  ·  link  ·  

    tax capital gains more aggressively

Fukkin' death-taxin' commie.

kleinbl00  ·  2491 days ago  ·  link  ·  

Inheritance tax is not capital gains. Inheritance tax you only get when someone dies. Capital gains you get whenever property is bought or sold.

You wanna cool a housing market, suck the profit out of speculation. And then get voted immediately out of office.