this post was submitted on 01 Jul 2024
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"Prison slave labor builds homes"
No landlord wants new housing build. And prison labor is rarely used in residential construction, or really construction at all.
Treating housing as an investment is the real culprit of the current housing affordability crisis. Banks sold people on the idea that a house isn't just place to live but an investment, and people want their investment to appreciate in value, which by nature means it has to get more expensive. There is a natural incentive for current housing owners to restrict supply to inflate value, this is true both of a company like Blackrock that owns thousands of homes, your local residential property kulak who owns two apartment buildings and a laundromat, and your grandpa and grandma who own a 3 bed room and plan on selling it to retire to Daytona Beach.
I wonder how much of the official American GDP is just property value appreciation and not Actually Real (I know most of other aspects of it aren't real I mean just this part of it being not real, also)