This is a very well-understood aspect of our current problems now.

I doubt that it gets solved short of revolution and the shedding of the oligarchy's blood (along with the blood of a lot of other people).

medium.com/@bj.chippind...

5. A Tax on Ownership Income (that will ultimately be
pushed to 100%)
6. A UBI, with supplemental funds for retirement and
disability.
7. Properly funding the Healthcare System.
8. Properly funding the Education System.
It isn't "taxpayers' money."

13/m=13

So how do we FIX something as broken as we currently enjoy?

1. A Debt Jubilee.
2. Government backing NEW ZEALAND banks.
3. Government building of higher density low cost
housing in all urban areas.
4. Government provision of zero-interest loans for
housing.

12/m

I stand by that assessment. Mahinism tells us that

Profit belongs to society, not to the individual.

Interest on loans is an attempt to break the First Law.

Pricing according to scarcity is an attempt to break the First Law.

The way our markets currently work is through failure.
11/m

Most European nations seem to have understood this. As they fail to remember it, they fall into the more divisive patterns demanded by the profit motive and the owning class.
I've pointed out that profit is not for individuals, but for societies, and it does not appear directly as money.
10/m

Publicly built housing, social housing, must be built, but at the same time as we do this, we must manage a mixture of purely social tenants and workers. Creating an apartment complex and placing only poor people in it is a recipe for social failure.
9/m

There is demand for lower-cost houses or apartments, but the supply of suitable land is fixed and even reducing, due to climate change and flood risks. The overpriced existing stock is pushed still higher in price? The bankers LIKE that.
The profit motive is not fit for purpose.
8/m

Not the "investors." Building a good quality, inexpensive house on a plot of land costs them as much as a much larger, expensive one, but they can't get as much money for it.
The profit motive forbids the build.
7/m

Not the bankers, they can't persuade people to take out those huge mortgages and pay all that interest. People who have choices that don't involve a pound of flesh and their firstborn child aren't willing to sign away their future as they currently must.
The profit motive forbids the build.
6/m

Most of our banks are foreign-owned.

Building affordable housing will reduce the price of houses by making room for people to live simply. THAT part of market economics still works, but who would be making more money from that? Who would profit?
5/m

However, none of our "investors" are adding to the stock of affordable houses. They are tools of the bankers who use the gargantuan loans to extract still more money from the NZ economy, locking it into unproductive, overpriced houses. THEY, as well as landlords, profit from the rising prices.
4/m

This is New Zealand Today. Everyone but the owning class is suffering. We elected a PM with seven houses; he rolled back a few rules and took a massive tax-free profit on two.

Our media does not explain the problems with the housing market.
3/m

It seems that we went further and faster in pursuit of a "market" solution to our housing than Europe did.

It is a "market" that should not exist at all.

Houses are for living in. Land is not for individuals to profit from, and the owning class* should not exist.

(*From my pinned thread.)
2/m