That $400K house the county is selling. Is it a direct comp to the $1M house the other seller is offering? If it is, where’d the county get the land so much cheaper than the market? If they had a bunch of county-owned land from original incorporation, great, but is giving it away at that price (presumably via a lottery process) the best thing for residents of the county, or is $750K a more prudent use of the people’s resources?
Note that I’m weighing this up as an alternative to the GP’s doomsday scenarios. Given those scenarios spending on fixing the housing crisis seems like the most prudent action for a government.
If public housing was done on a mass scales (like it has been in the past/other countries) you wouldn’t need a lottery process, just a wait period. A lot of people are renting and can afford to wait a year or two. In the status quo we simply can’t buy at all, we forsee renting for the rest of our lives, and are at risk of not even affording that as rent goes up exponentially.
