Delete comment from: Mutualist Blog: Free Market Anti-Capitalism
Of course, this is only that practical in a country with enough available land for those cottages to exist. It wouldn't work in the UK for instance - English townie demand has been squeezing out young Welsh for a long time. But even in places like Canada, the plan wouldn't be quite as useful as that makes out, because of the falalcy of composition. that is, if every Canadian family tried it, the cottages would rise in value to more than $120,000 - and more seriously their equity in their old homes would collapse. Such a scheme in fact needs to be brought in incrementally, on the back of old style building societies for instance.
Sep 8, 2005, 5:53:00 AM
Posted to Could You Live Without Money?