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Agreed. Thankfully we know what it takes to make housing a crappy investment vehicle. Build more housing. Build so much housing that returns on capital invested are flat, live Tokyo since 2000, or negative, like Seattle over the last five years.

Make building housing legal again.

Also. Renters deserve housing too. Restricting housing to the owner occupied is a great way to hate things by social class but I see no reason to further favour a population that’s richer and more powerful than the rest of the population already.

Why not enable a dynamic rental sector so people can move around the country to better jobs? Feels mean to trap people.

Greed, combined with a housing shortage, and the housebuilding that is going on being poorly planned (no new infrastructure, as many homes crammed onto small patches of land as possible, usually designed around car ownership but without space for the cars, etc) and focused on maximum profit.

We should build more housing so that homes aren't such good investments that people are tempted to do this.