I've been thinking about this as well, and I think the crux of the problem is that housing is a prime investment. I'd imagine for most older Americans, real estate makes up a significant amount of their nest egg. In my circle, it seems like there is much more talk about housing investment than stocks or something similar.
If this is true, then it implies that the corrective paths are all things which will negatively impact the investments of anyone with a mortgage. I wonder what percent of the voting body they make up? I think this is part of why we aren't seeing change. It seems like somebody has to lose out.
I think these are the main solutions. As you see they are all legislation dependent:
1. As you mention, larger tax on housing, especially on those which are used as rental properties.
2. Saturate housing markets with government housing, which don't need to be priced at subsidized rates but only at a rate such that no rent seeking behaviour would be practiced in a 40-50 year window. A 0% IRR investment from the government would not cost taxpayers nearly as much as subsidized housing.
3. Relax building code standards and zoning regulations to drastically increase the supply of low cost real-estate opportunities.
4. Related to 3, relax laws relating to mobile homes/RVs/tiny homes and allow people to live in them if they have a place to keep them. I know in many places this is illegal, even in very rural areas [1].
If this is true, then it implies that the corrective paths are all things which will negatively impact the investments of anyone with a mortgage. I wonder what percent of the voting body they make up? I think this is part of why we aren't seeing change. It seems like somebody has to lose out.
I think these are the main solutions. As you see they are all legislation dependent:
1. As you mention, larger tax on housing, especially on those which are used as rental properties.
2. Saturate housing markets with government housing, which don't need to be priced at subsidized rates but only at a rate such that no rent seeking behaviour would be practiced in a 40-50 year window. A 0% IRR investment from the government would not cost taxpayers nearly as much as subsidized housing.
3. Relax building code standards and zoning regulations to drastically increase the supply of low cost real-estate opportunities.
4. Related to 3, relax laws relating to mobile homes/RVs/tiny homes and allow people to live in them if they have a place to keep them. I know in many places this is illegal, even in very rural areas [1].
[1] https://globalnews.ca/news/7501035/bc-couple-salmo-land-evic...