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131 points Traces | 2 comments | | HN request time: 0s | source
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GardenLetter27 ◴[] No.44442352[source]
This is the wrong way to look at the issue.

The super-rich don't stay rich by just sitting on their money, they invest it.

These countries should focus on encouraging investment there - by getting rid of bureaucracy and red tape, make it possible to hire across the whole EU a lot easier, without needing separate tax registration in every country, etc.

Lower the barriers to entry wherever possible - no long application processes for developments with endless consultations, no arbitrary minority language or qualification requirements, etc.

Income inequality is a good thing, but there needs to be equal access to education and opportunities and the lowest barriers to entry possible.

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aredox ◴[] No.44442417[source]
They invest and then they extract ridiculous rents from their investments - leading to widespread burnout, perfectly fine businesses being closed and employees being laid off because they don't give double-digit returns, empty shop spaces because it would diminish their value to lower the rent, excessive appartement rents, etc.

And an economy oriented only along the wishes of the super-rich.

Money is the way you "vote" into the economy, and the more money is in the hands of a few, the less the economy actually adresses the needs of the many.

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1. GardenLetter27 ◴[] No.44442516[source]
The housing crisis isn't due to investment, but onerous government regulation that makes it near impossible to build - decades-long planning processes, dozens of consultations (local public, and NGOs, etc.)

That's exactly what I mean by removing bureaucratic processes to unlock investment.

But the "many" can learn useful skills and innovate to also make a lot of money. Everyone should be able to start a business easily - without excessive capital requirements or expensive notaries. STEM education should be free and widely available (or with very low interest loans if we let the loan interest be decided per subject, per student grades, etc.)

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2. cloverich ◴[] No.44443207[source]
Investment in sfh definitely plays a major role. It's not an either or situation. Build more houses. Make SFH investment homes unprofitable. Both will increase the homes on the market, lowering prices.