Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Elroy Jetson who wrote (62753)	4/25/2005 3:42:35 PM
From: Moominoid	Read Replies (1) of 74559

Half the population does have a negative net worth (not counting human capital). In equilibrium housing prices should reflect the tax benefits to the average buyer?.... Of course for some people those benefits are more useful than for others. At the moment though it seems that the value of the utility the average person gets from homeownership outweighs everything else in the equilibrium price. If like me owning a home would give you negative utility you definitely don't want to be a homeowner unless prices are very low :P Most of the population out there isn't aware of margin loans, though in the US you can only deduct the interest against investment income (unlike Aus). What else was I going to say: Oh yes in Moominland we would have "free market planning policies". We wouldn't tell some people they couldn't develop their land. Like in the US the government or private trusts would own reserves. On the remaining land there would either be minimum density requirements and/or fees to develop at lower density depending on the environmental value of the land. Well something like that. Or require that new development must be contiguous to existing development etc.... The perversion of US planning are zoning laws that set maxmimum densities rather than minimum densities....

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