[nickles]

> And this is a part of why it should be administered by governments and not just let loose to market forces... There's no real financial incentive to build 100,000 houses in the middle of nowhere

That's exactly what the Chinese government did, only at a larger scale. It hasn't worked out well.

> They actually suggested recently to offer multi-generational mortgages... That's how crazy the market is getting.

I saw that, it's absolutely wild.

> Those are risks your landlord should have insurance for. In a world where property isn't such a commodity, those risks don't really have the same meaning or value.

There are risks that can't be insured against. Suppose my employer relocates to another region, and I have the choice of following or finding a new job. If I own a house, I now have to sell it (incurring a 3-6% transaction cost and lots of headache). I can only sell it if there's a willing buyer, and there's no guarantee there will be any.

My rent is covering the building's mortgage, taxes, and maintenance, which I would be paying if I owned the property. It may be marginally higher than the cost of ownership, but I have a strong preference for flexibility. That flexibility is worth the liquidity premium to me.

> What happens to people that are 'undesirable' to landlords

In the US, there’s legislation that prohibits discrimination across a variety of protected classes (race, religion, sex, etc.) Does the UK have similar legislation? Putting aside ethics for a moment — discrimination is inefficient. It’s in everyone’s best interest to eliminate such behavior, whether through market forces or legislation.

[Baloo]

You should have that flexibility. There should be enough housing stock that you can move to another city and not have to worry about struggling to find a place, arranging visits for them to be cancelled or leased before you can even view it. There are parts of the world where government rental housing schemes are extremely successful, it also typically caters for those that would be left with nothing if we didn't intervene with the market. Yes there are laws against discrimination, that landlord was overruled in high court. That does not stop it from happening, in many different forms - there is never ending prejudice and difficulty simply getting a home for young people, disabled, minority backgrounds, immigrants, welfare recipients. The landlords have all the power when it comes to deciding who they allow to rent, they do not have any obligation to tell you why you were refused. Even though the court says it's illegal for him not to rent to certain races, what is stopping him?

We live in a world where it is entirely feasible for every person to have good quality shelter, clean water, food and energy. For the most part, we allow market forces to control the access to goods and services. Wealth is being concentrated, property along with other vital services, are just another asset in the portfolio. It's missing humanity. We need homes, healthcare, water, food.. I think it's about time we prioritise this vs high profit, monetary gain, corporate excess and 'free markets' (they're never really free, always tipped in favour of the owners of capital).