[spanktheuser]

The solution to being priced out a market is impoverish the island until is homes are affordable again. A general strike should do the trick.

[toomuchtodo]

Government sponsored non market housing is a sustainable solution. See Vienna for an example.

The problem is that you must lock away the real estate from capital, otherwise it becomes yet another asset for chasing yield.

https://www.huduser.gov/portal/pdredge/pdr_edge_featd_articl...

https://news.ycombinator.com/item?id=38117223 (citations)

[rwarfield]

Vienna's affordable real estate is entirely down to the quantity of housing they build - around 2/3 as many units as NYC with 1/4 the population. It has nothing to do with locking private capital out of real estate (which anyway isn't what Vienna does - there is private housing too). U.S. cities used to be affordable too, when they were building lots of housing.

https://www.slowboring.com/p/what-can-we-really-learn-about-...

[mahatofu]

Excellent examples. Very similar projects in Barcelona as well.

[TacticalCoder]

That island lives thanks to rich tourists. What's the plan? Turn Ibiza into a slum so that rich foreigners owning houses there sell their houses? Not collect garbage? Allow crimes to run rampant?

You could turn Ibiza into "not Ibiza", but be careful you may get what you ask for: a place without any economy anymore.

[AmVess]

I've seen a few towns where everything shut down. Supermarket, all restaurants, gas stations closed because people working those jobs can't afford to live there at all. They even thought about bussing people in, but they had 0 takers.

[nonethewiser]

But people flock to Ibiza for work. It makes no sense to strike. It would be cutting off one’s nose to spite their face.