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Kamala/Trump Policy Discussion: Housing, Immigration, Tariffs
"Econ 102" with Noah Smith and Erik Torenberg
Real Estate's Unchanging Role in Wealth Dynamics
Title deeds often create a disparity where non-owners, typically family members of title holders, still benefit from price appreciation. This dynamic reflects a longstanding tug of war in real estate ownership and wealth accumulation. Despite calls to reform a perceived broken system, the fundamental structure remains unchanged across wealthy nations. Real estate consistently serves as the backbone of middle-class wealth, underscored by the distinction between land and building values, as seen in Japan. Land appreciates due to its finite availability near economic hubs, while buildings depreciate. There is a lack of proven methods to alter this system, emphasizing the necessity for housing policies that enhance availability.
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