The charts at the top are eye opening. More and more of our income is going to pay for pieces of land. Unlike computers, TVs, and even troublesome areas like healthcare the land is not getting better and better. It’s instead a purely zero sum game.
We probably can’t eliminate the scourge of land rents altogether but we can stop making the problem worse by putting in place more and more policies designed to raise housing prices rather than lower them. Such policies are exactly the opposite of what the government should strive for.
We probably can’t eliminate the scourge of land rents altogether but we can stop making the problem worse by putting in place more and more policies designed to raise housing prices rather than lower them. Such policies are exactly the opposite of what the government should strive for.