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Originally Posted by llamaorama
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And what is that exactly? In what sense would it work? What's the desired end game? By what metrics do our economic know-better overlords measure success? High interest rates and down payments so if you eat rice and beans daily maybe by age 50 you can buy a lovely flat, just like in Germany and much of Europe?
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the desired end game is a sustainable, inclusive future.
land is finite. unrestricted ownership of it combined with restrictive zoning (to "protect" people's investments, of course!) forces unsustainable sprawl as population increases or patterns of settlement and economy shift. it's a fundamentally broken model. the people owning the property control the only means (density) by which the amount of it could be expanded to meet the needs of a growing society.
at some point residences went from "something you need to live like food, water, health care, clothing" to "generational piggy bank." the current system MIGHT make sense if there was a massive tax on inherited real estate.