Sounds like you want a super liquid asset that's not actually an asset because it doesn't appreciate, and also it needs to be really easy to buy, cheaply. That's unlikely to happen and what we have right now is probably as close as one can get to that.
I wasn't saying that coops or TICs are ideal, just that they show what happens when you remove the speculative and investment aspect as well as the subsidy of below-market interest rates and mortgages that any idiot can qualify for. The result is prices which are lower by 10-20%.
People seem to want an engineered, top-down, state provided solution that makes homeownership more affordable. But we've already tried many of those solutions and they just inflate prices and encourage speculation and securitization.
A better approach might be to end the various implicit and explicit subsidies on mortgages and homeownership, keep speculators, investors, and big developers out of the market, and focus on owner occupied dwellings. I think this would disinflate the housing market and allow it to get back to where it should be.
I wasn't saying that coops or TICs are ideal, just that they show what happens when you remove the speculative and investment aspect as well as the subsidy of below-market interest rates and mortgages that any idiot can qualify for. The result is prices which are lower by 10-20%.
People seem to want an engineered, top-down, state provided solution that makes homeownership more affordable. But we've already tried many of those solutions and they just inflate prices and encourage speculation and securitization.
A better approach might be to end the various implicit and explicit subsidies on mortgages and homeownership, keep speculators, investors, and big developers out of the market, and focus on owner occupied dwellings. I think this would disinflate the housing market and allow it to get back to where it should be.