this post was submitted on 23 Oct 2024
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Housing Bubble 2: Return of the Ugly
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You mean if someone burned them down and blackrock got an insurance payout valued higher at the homes were worth allowing them to build lower quality replacements and rent it out at an even higher price to people because it's new and driving the average home price even higher? Yeah, that would be a shame
If it was a one time thing, sure, but if unoccupied properties had a meaningfully higher risk of arson to the point where it's priced into insurance, there would be less of an incentive to hoard housing.
Meanwhile insurance prices go up for everyone else, and housing supply goes down, making cost of housing higher still