"Housing Bubble" is Really a Land Bubble

(Progress & Poverty part 4.) Wendell Fitzgerald, President of the Board, San Francisco Henry George School. With Peter Melton. HenryGeorgeSchool.com. Produced by DanShaw.com.

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• George
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• economics
• progress
• poverty

[LibertaerUeberAlles]

WINSTON CHURCHILL:

"Germany's unforgivable crime before the second world war, was her attempt to extricate her economic power from the world's trading system and to create her own exchange mechanism which would deny world finance its opportunity to profit." - Winston Churchill (to Lord Robert Boothby, quoted in the Foreword, 2nd Ed. Sydney Rogerson, 'Propaganda in the Next War' 2001, orig. 1938.)

[jbryant13]

LOL!

[wiferachel]

If you got an adjustable rate mortgage or a interest only loan there is good news. You should be able to get a refund on your college education because you are extremely stupid and you now have proof.

[wtfitzgerald]

The effect of taxing land values heavily would be to end the shortage of land. Perhaps that overstates it a bit but look at it this way. All those who are now holding land for purposes of cashing in on the speculative increase of land values would no longer be able to cash in. They would dump all that land back on the market in a big hurry. The result, more available land and reduced cost of land.

[wtfitzgerald]

The current system is indeed corrupt. Anyone who has studied the idea of collecting community created land values and eliminating taxes (theft) of privately earned incomes from wages and real capital investment comes to realize that we could create a situation where homeownership would be easily affordable. You do not see any politicians espousing this idea do you? They ignore it. Doesn't that tell you something?

[wtfitzgerald]

The actual effect of the idea of collecting community created land value is to lower the speculatively high cost of land which is THE barrier to home ownership for most of those who increasingly cannot afford it. The effect of taxing a value of something which does not have a cost of production like land is to lower its market value. The effect of taxing something that does have a cost of production is to increase its cost because the tax has to be passed on the the final consumer.

[YourHomeTown]

Planning/development and city council meetings deal with a shortage of land to build on at my channel.

[DCUPtoejuice]

you sucked me in with an accurate first half, and then failed to show much coherence in the second half.

[antipovertycultz]

I ALSO consider it a POLITICAL/social crime that a poor or middle class family be prohibited by politicians from getting dEcent modern housing by negating property ownership through politicaly engineered hyper-inflation. INFLATION rises rents and creates homelessness! any halfwitt economist and politician knows this.

[antipovertycultz]

Politicians use the mobocracy system in housing by charging taxes every year on the property you have already paid the day you cant pay you lose your house, like a mafia movie By increasing taxes every year there would come a time

where you cant pay that high. The result is inevitable mass homelessness for the middle class and rising rents for the poor while wages stay low