1. Politicians and the bureaucratic class have deep investments in real estate
2. Foreign money keeps flooding into western economies to find a safe haven and lack of capital controls. A bulk of it goes into real estate.
3. Elections are largely monopolized by older people who mostly tend to be homeowners.
The entire system is rigged against anything that would impact home prices - such as an increase in supply or change in zoning laws. Entire countries seem to be perfectly okay with watching its young people be priced out of cities and areas they work in as long as "number go up".
All the hand-wringing about political gridlock is just a cover for basic greed. Detestable.
2. Foreign money keeps flooding into western economies to find a safe haven and lack of capital controls. A bulk of it goes into real estate.
3. Elections are largely monopolized by older people who mostly tend to be homeowners.
The entire system is rigged against anything that would impact home prices - such as an increase in supply or change in zoning laws. Entire countries seem to be perfectly okay with watching its young people be priced out of cities and areas they work in as long as "number go up".
All the hand-wringing about political gridlock is just a cover for basic greed. Detestable.