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It sure would be nice if folks on the left stopped using the term “neoliberal” as shorthand for “something I don’t like”. Words have meanings. A neoliberal housing policy would be a bunch of 5-over-1 in mixed zoning. The housing crisis is caused by many factors:
- sky-high construction costs
- restrictive zoning
- lack of co-op condos due to insufficient startup finding
- protectionist policies designed to shield homeowners from any drop in property value
- too-low interest rates for the past few dacades
- lack of other good investment options
- increased prominence of REITs and real estate holdings in pension funds etc
Their premise is that the free market drove up the price of houses. Deregulation that is to say end of social housing programs led to this. Is that not neo-liberal? High construction costs come mainly from high cost of labor. The market driving up costs isn’t free market? What protectionist policies are there? When have property values been under threat of dropping. They’ve been ever increasing due to market demand. You say “lack of good investment”. Others say investors determined housing was a prime investment. Ditto for your last point.
a bunch of 5-over-1 in mixed zoning
What does this even mean?
I think zoning laws, parking requirement and crazy urbanism rules are a form of protectionism that drive home prices up.
It’s crazy that the land you buy is so restricted that the only thing you can do is… nothing asides from trying to win the lawn contest with your neighbors.
In my opinion, those are the factors that led to this catastrophe. Houses are literally frozen. You cannot start a business, you cannot build another house on your land, nothing.
The government can build more affordable housing, sure, but ultimately, we need to let the city build itself without overly restrictive zoning and urbanism by-laws.
I don’t like your reply so you must be WOKE!
/s
I’m not into politics at all, but wouldn’t the word “neoliberal” be most likely misused by those on the right?
