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One of the most effective ways to lower the cost of everything is to make housing more affordable.
No government handouts.
No subsidies.
- Get Blackstone and PE out of housing (except to build or flip distressed homes). We have allowed these PE firms to use the money in our 401 (k)'s and bid against us and our neighbors. Using our retirements to inflate housing costs, increase tax revenue, and put many people into a perpetual cycle of slavery in the form of high rental housing. Criminal.
- Create incentives for private equity companies to let go of inventory. (Like 0% capital gains to release those homes back into the market)
- Very low interest rates for primary residence (with a mortgage cap so we don't create a bubble because money is cheap).
- Create incentives for home builders and flippers to get to work. Make their capital gains zero or close to it. We need the money to get in, create inventory, and GTFO...
- Eliminate property tax on personal primary residences. Make it very unattractive for people to own a second or third home.
- Remove all taxes from items used to build homes. (Drywall, lumber, roofing)
- Give tax breaks to everyone working to build housing. Tax breaks to companies that build on new innovative technologies in housing. Even the companies that make the drywall... There would be a HUGE incentive for people to work in the industry if they were able to work with 0% taxes. Sunset it at 10 years. Bring money into the new building tech R&D.
It should cost less to own a home than to rent a home.
Housing has become the largest item on anyone's budget. If we lower the cost of housing, most families could have so much more room in the budget. They could take jobs at a lower wage, which in turn could bring down the cost of everything.
There are people on government assistance, drawing a check (at taxpayer expense) to pay for an apartment that's owned by PE... And the PE firms have driven up the cost of housing in the area. It's intentional. It's a grift on the American taxpayer. They use our money to outbid individuals, raise the price of everything in the area (in turn raising the value of the underlying asset), profit from the increased rent, and take out loans against the property when the value increases at a zero % capital gains (because it's technically a loan, not income). All at a cost to us.
Many people would not need government assistance if the cost of housing were VERY AFFORDABLE! If a struggling family could purchase a home for $100-140k, they would not need as much help.
Personal home ownership is foundational for us as a nation. It brings security and personal responsibility.
@realDonaldTrump Many of these things would need to be done at a federal level, but this should be so easy to do. We could turn things around in 2 years if the law were written correctly.
America could thrive from just one small change. This would ripple through our economy.
@brianeharrison, once you are done destroying DEI in Texas, I would love to see you tackle some of these things.
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