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That seems like a weird assertion.
It is honestly not. Property ownership is currently the primary method for being able to collateralize small business loans. Without the general populace having access to that, that initial step for starting a new business or pursuing a venture before it is viable for investment becomes VERY difficult to achieve. Especially if it is something that requires a lot of involvement or time to get moving. Once you take out the ability to make a startup or small business, you are left with an ever-dwindling pool of options and end up in a persistent state of monopoly it oligopoly for most goods and services, which in turn leads to an utter stagnation of economic conveyance and growth.
Another way it stagnates economic growth is in the increased expense associated with housing. The actual economy, not the BS we are told is the economy, grows when money moves. Individuals and companies buying goods and services from each other. That only happens with disposable income. If everyone is paying 2x what they would in rent that they would in ownership, that comes out of their disposable income. This leads to less luxury (in an economic sense) purchasing and, in many cases, restricted necessity purchasing. So less money is available to move, which causes the economy to shrink.
Unless there's another way, like they've achieved in European countries where renting is the norm. Their economies didn't collapse.
Afaik those countries also have rather extensive tenant rights laws, rent control/caps, and a robust entrepreneur support system, like universal health care and generous PTO laws so people can take time to pursue things while minimizing the risks.
Yes, and none of them have had their economies collapse.
Very true, but let's see that happen in the US, Australia, or New Zealand. Or any of the other dystopian nightmares that capitalists have manipulated into their own private wonderlands.
I think you're overestimating how different those countries are.
Ummm, I was comparing them as similar, not different. They are all facing identical housing issues and are faced with similar social programs and safety nets.