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this post was submitted on 21 Apr 2024
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IDK, the housing market seems to follow different rules than TVs, for example. Rent prices highly depend on the income of individuals in the area. Rent, land, and houses are very cheap where there are no jobs, and very expensive where there are many highly paid jobs. I suppose it's because you can't manufacture more land at a lower cost in places where people want to live, ridiculous zoning practices, and real estate being used as an investment vehicle (not only by large corporations, but also by many fairly well-off people who buy a new home and rent out their previous one, for example).
UBI and remote work have the potential to even things out dramatically. Towns that lack employment opportunities could attract people other than retirees and services that would have otherwise been unavailable could be sustained.
I suppose it could cause pricing problems in some areas, but that could probably be mitigated by high property taxes coupled with tax breaks for primary residences to curb real estate hoarding and rent seeking.