I don’t know how normal people think, because I am not at all normal.
I do know that one of the biggest single costs the average person faces is housing. And I know that housing can be built in large quantities in economies with a tenth the GDP/capita of the current G7 average.
I don’t by into the narrative that capitalism is pure evil (or anything even remotely close to that), nevertheless I think that unless effort is made to avoid them, undesirable Nash Equilibria can form within it, and that is why we don’t collectively have 10-20 hour work weeks with the standard of life from 1970: https://ourworldindata.org/grapher/labor-productivity-per-ho...
>biggest single costs the average person faces is housing
right, and because we do not have a fair market with price discover, and regulation has hindered progress, this has led to a basic living need to become a speculative asset, much to the loss of the average homebuyer.
if you expect your home to grow in value, you cannot also expect your son or daughter to be able to afford it in the same way.
It’s not (just) about regulation; even inside Germany, there’s a massive price difference between similar properties in different locations.
But I certainly agree with you about the second point, it’s frustratingly hard to getting the relevant people to accept that allowing homes to become investments also makes them unaffordable.
I do know that one of the biggest single costs the average person faces is housing. And I know that housing can be built in large quantities in economies with a tenth the GDP/capita of the current G7 average.
I don’t by into the narrative that capitalism is pure evil (or anything even remotely close to that), nevertheless I think that unless effort is made to avoid them, undesirable Nash Equilibria can form within it, and that is why we don’t collectively have 10-20 hour work weeks with the standard of life from 1970: https://ourworldindata.org/grapher/labor-productivity-per-ho...