Greenfield and Clark make the case for changing tax incentives around construction and real estate, in order to finally solve the problems that led to the housing bubble and encourage sustainability:
The problem today is that neither individual homebuyers nor even larger commercial builders drive “market forces.” Instead, the market for real estate construction comprises managers of hedge funds and speculators who buy buildings and homes as rental properties. They are waiting for the value of the buildings to rise, as they had before the 2008 collapse. By early 2014, these high-volume buyers will most likely be near their short-term return on investment (ROI) with their investors and therefore looking to sell.
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