alt Hacker NewsPeople love to say that but they own a very small percentage of housing in reality. What’s driving housing costs is also supply and demand. Especially supply, since we’re not allowed to build any houses in most places people want to live.
Replies
atomicnumber3 • yesterday at 3:33 PM
Prices are decided at the margins. Having PE and REITs at every single table, even if their actual ownership is small as a %, makes huge differences.
➕ show 1 reply
cassepipe • yesterday at 4:35 PM
> not allowed to build any houses in most places people want to live
Or to convert them into apartment buildings
Betelbuddy • yesterday at 3:47 PM
Read your response again. You are reinforcing my argument in case you did not notice...
Which doesn't sound like a free market to me. Capping production to keep asset price high is one of the most straightforward default examples of market-distorting interventions there is.