not when its anti-consumer, these ideas work in free market with multiple suppliers who can upscale and compete.
Real estate is not a free market, due to building regulations, insane municipality fees to pay upfront for housing units (for example, in canada a lot of provinces require housing developers to pay 100k+$ per 2-3bhk apartment upfront before even completing and building housing units, for 4 floor, 3 apartments every floor, thats 100k * 4 * 3 = 1.2 Million$+ in FEES alone before even selling a single unit !)
Plus these systems are being used to force sellers to algorithmically collectively raise rent prices , to max the revenue collected as possible.
This is literally anti competition, anti free market, distributed oligopoly price-fixing like behaviour.
Housing is the largest cartel in Canada, Retail or Media doesnt work in money laundering.
Canadian housing stock is literally used to whitewash illegally earned cash internationally (but especially china), and they influence politicians and municipalities to put in place laws to stifle housing construction.
Canadian housing is used by international criminals as a store of value instead of gold or other stuff, it’s a very popular method of money laundering.
It’s insane, none of this is free market, like some folks are obnoxiously touting in this thread, this is not free market, not pro-competition, not market decided pricing.
Homes should be for living in, just like Cola is used as a consumable, not as gold/bitcoin to store value, it’s being made this way by Politicians stifling the market with insane regulations preventing homes from even being built.
But if your only standard for whether or not something should be done is "does it create monetary value", you would do anything to get that value anyways.
Which is why we have to have regulations to prevent that from happening, because humans will do some pretty screwed-up things to get money.
what else it should be used? also who makes these decisions? should we form a committee to decide what it can and cannot be used for? US only people make decision or we let UN-like entity decide? what is the punishment for using it for unapproved things - death penalty?
> should we form a committee to decide what it can and cannot be used for?
We already do that. Corporate boards.
Every other Western nation has figured out some level of this and people in the US are still asking "who does x?" with a slippery slope argument implied.
Real estate is not a free market, due to building regulations, insane municipality fees to pay upfront for housing units (for example, in canada a lot of provinces require housing developers to pay 100k+$ per 2-3bhk apartment upfront before even completing and building housing units, for 4 floor, 3 apartments every floor, thats 100k * 4 * 3 = 1.2 Million$+ in FEES alone before even selling a single unit !)
Plus these systems are being used to force sellers to algorithmically collectively raise rent prices , to max the revenue collected as possible.
This is literally anti competition, anti free market, distributed oligopoly price-fixing like behaviour.