chapotraphouse

I want so hard to believe in the "abundance agenda," but it just doesn't work on its own. Ultimately, an economy only has so much productive capacity. Yes, YIMBY movements have their place; we should remove irrational barriers to new housing construction like wasteful single family zoning. But the real problem is one of income and wealth inequality. There are only so many workers, so much investment capital, so many productive resources in an economy. It costs money and materials to build homes. If all the wealth is piled at the top, those resources will go towards the whims of the wealthy. If wealth is broadly shared, then those resources will go to the needs of the many. Instead of people learning to become carpenters to build homes for regular people, they study to be shipbuilders to build yachts for the ultra rich. Instead of mills churning out wood, concrete, and steel for ten modest family homes, those resources go to build a single large mansion for one wealthy family. With all the wealth piled at the top, the rich can outbid everyone else for any of the resources needed to build homes. You cannot solve the housing crisis without tackling wealth and income inequality first.