I quite agree.
What I wrote was: “High prices are the market’s way of discouraging too many people from living there and taking up housing that could be more usefully employed accommodating someone else.”
And that’s true. That’s how the market works. That’s the market system.
Sometimes, there will be home owners who live in an expensive area, but who have no particular need to live there. High house prices encourage them to consider moving away. The high prices may mean they can sell their property, move and be better off as a result.
But, yes, high house prices can cause problems for people on low wages — and that’s not always fair, but markets aren’t designed or intended to be ‘fair.’
Do the Rich Deserve to be Rich? — Basic Income Ethics
There are some relatively wealthy people who’ve received good wages, or who owned and ran a successful business, who…
Out of interest Kerry, what sort of system would you support? How do you think a Basic Income system should cope with widely-varying house prices?