this post was submitted on 14 Oct 2023
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The thing everyone keeps forgetting somehow is that the goal of capitalism is to make profit, not improve quality of life.
The role of government is to regulate capitalism so that the profit goal and the quality of life goals end up being the same thing.
Unfortunately government isn't doing that right now because the number of people benefiting financially from this market distortion is larger than the number of people being negatively impacted. 65% of residential properties are still owned by the family living in them. That number will go down over time, and the government will bring in more regulation to re-align things, but we simply aren't there yet.