I could be misunderstanding what’s going on here, but it sounds like they’re making the classic Marxist mistake, and assuming that the solution to the problem is to destroy created wealth, trying to make other wealth more valuable. It does not – wealth is not created by acts of destruction. What they should be doing is letting the housing price fall to the point where buyers are actually willing to invest. By not doing so, they’re being as intractable as the homeowners who refuse to sell at less than a profit.
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