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   Evan Prodromou (evan@cosocial.ca)'s status on Friday, 04-Oct-2024 09:11:26 JST Evan Prodromou

   In the housing debate, nobody talks about the fact that most homeowners are terrified of new housing stock driving down home prices because their entire net worth is wrapped up in their primary residence as a financial asset.

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     Evan Prodromou (evan@cosocial.ca)'s status on Friday, 04-Oct-2024 09:12:09 JST Evan Prodromou

     in reply to

     tl;dr high housing prices are a wealth inequality issue.

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     Evan Prodromou (evan@cosocial.ca)'s status on Friday, 04-Oct-2024 09:12:52 JST Evan Prodromou

     in reply to

     And yes, I know land value tax will fix this.

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     M. Grégoire (mpjgregoire@cosocial.ca)'s status on Friday, 04-Oct-2024 09:38:53 JST M. Grégoire

     in reply to

     @evan Is that true, though? A lot of the increase in house prices (in Canada at least) is recent, benefitting people who've owned their houses for decades. If their windfall were to disappear, they would merely return to the status quo ante.

     #housing

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     Evan Prodromou (evan@cosocial.ca)'s status on Friday, 04-Oct-2024 11:59:29 JST Evan Prodromou

     in reply to

     Changed from "entire" to "much of". Primary residence is about half of median family's net worth. https://www.federalreserve.gov/econres/scf/dataviz/scf/chart/#series:Primary_Residence