Housing policies ensure continual wealth gains for current home owners while leaving renters and potential buyers locked out of the market.
Housing policy is a battle between the haves and the have-nots. The haves are the current generation of wealthy home owners. They have enjoyed large capital gains over the past few decades and are sitting on property worth hundreds of thousands – often millions – of dollars. They support the policies that have delivered these windfalls.
The have-nots are renters and future generations of potential home owners. These groups are disproportionately young and on lower incomes.
Read the full article on John Menadue’s Pearls and Irritations