If Americans viewed housing as what it essentially is, a consumable good, solutions to our ongoing affordability crisis might just present themselves. And we’d probably loosen a lot of land use regulations.
Homeownership is considered a basic component of the American Dream, but shelter is also a basic necessity. “Rising milk prices are regarded as a household tragedy for some, and spiking gas prices stoke national outrage. But whenever home prices go up, it’s ‘a recovery,’ even though that recovery also means millions of people can no longer afford to buy.”
If we didn’t consider homes an investment, Conor Dougherty writes, “People might expect home prices to go down instead of up…Please click here to read Philip Rojc’s blog post in Planetiizen.