Morgan Housel

Now,

So I understand like that incentive.

I still think though, it is inadvertently evil.

I think most people who do it mean well, but it is inadvertently evil to say, if you're a baby boomer, when I was in my 20s,

My parents' generation permitted the house that I was able to buy for 70 grand and raise my family in.

But I'm not going to afford that opportunity to the next generation.

If the previous generation helped you build and grow, and by and large, that's what we did in the 1950s and 60s.

We came together and said, we need millions of homes.

We're going to need hundreds of thousands of schools around those homes and fire stations and bridges and highways.

Let's go build it.

We did it.

And by and large, I think we have by choice stopped doing that.

And what benefited one generation 50 years ago has by and large been stalled out today.

Yes, this is not a problem of physics.

That there's a law of nature that prevents us from doing this.

And our proof of that, as you pointed out, are areas such as Tennessee, Texas, Tokyo, that have done what I think is a much more sane approach

of letting the demand fulfill itself rather than- They let entrepreneurs take the risk.

100%.

Do a better job next time.

Part of the issue of why I think this persists