Should we paint the moon a more romantic pink color too?
In this context, you only need a housing supply curve that stays slightly ahead of domestic population demand and can follow fertility rates down over the next century. Spain’ population will drop by a third by 2100, for example, and reached peak population in 2023. If migration is causing housing demand to exceed supply, impair migration demand until housing supply catches up, if it can.
https://ourworldindata.org/which-countries-have-already-pass...
Madrid has 3.4Mln people and is the second-largest city in the EU. How big do you want it to become?
I disagree on "just build more". There was a time where salaries moved more or less line with cost of living, and especially rents, but with AirBnB and estate funds sucking up any and all places they find, there's an enormous pressure that drives up rents for common people, which already struggle as-is to make ends meet. "Just build more" would simply keep pushing those towards the edges of town over time, while the city becomes a glorified luxury hotel that only rich people can afford. I welcome new regulation to combat this.
I just hope this event shatters any hope for the ultra-right parties that voted against it, and that people remember this. Ultimately, if anyone will build more, it'll still be the large real estate companies and funds that keep increasing rents on their tenants.
Ban AirBnB's and ban estate funds from owning homes.
Bigger, obviously. Because the number of people who want to live in Madrid or visit it is higher than that. This can create a lot of economic surplus. Part of that surplus can be used to pay off locals (e.g. with housing in the newly built stock) so they win too.
The only problem, as far as I can tell, is that there's no system for paying off locals. So they end up resisting growth because there's nothing in it for them except higher rents, and everyone loses.
Look at traffic jams, if what you claimed was true, then traffic jams in LA should never happen.
Building homes and all the supporting infrastructure from roads, schools or even parks takes a lot of time and money. The movement of tourists for example is always going to be significantly quicker, because its very easy to move a bus of people to Madrid, while it takes years to build a home for them.
I understand everyone has an opinion about housing prices, but your intuitions may not be well adjusted to Spain's circumstances.
I empathize with a universal right to housing, but is that a universal right to a house in East village NY, Marina SF or El Retiro Madrid?
For everybody?
Or only for those who got in, in the 90’s?
How does that seem fair?
These details have to be worked out before you can get the public to commit to one of these and just rioting in response will only get you so far.
But that’s still not enough, you also need preferential rent control for wherever you want to live for the remaining few of boomers who don’t already own the largest swath of real-estate.
They also keep increasing the difficulty of evicting non paying tenants, taking a lot of rentals out of the market because owners are simply afraid of not being to evict a non paying tenant, or making prices increase to account for that risk.
GuestFAUniverse•47m ago