I would argue it’s massive transfer of wealth. Mainly from the younger generation (and recent immigrants) to the older. But also from low income renters towards homeowners. The inequity is huge, and stifles many aspects of the economy.
I mean, that makes it sound like older homeowners have a very strong reason not to change things!
I usually try to emphasize self-interest (for homeowners, relieving the shortage of housing would have significant benefits, like their kids not having to move away) as opposed to altruism (you have a massive windfall that we want to take away). https://morehousing.substack.com/p/altruism
I would argue it’s massive transfer of wealth. Mainly from the younger generation (and recent immigrants) to the older. But also from low income renters towards homeowners. The inequity is huge, and stifles many aspects of the economy.
I mean, that makes it sound like older homeowners have a very strong reason not to change things!
I usually try to emphasize self-interest (for homeowners, relieving the shortage of housing would have significant benefits, like their kids not having to move away) as opposed to altruism (you have a massive windfall that we want to take away). https://morehousing.substack.com/p/altruism