fractalhowler on Nostr: Mark Carney’s idea of fixing the housing crisis says a lot about the mindset that ...

Mark Carney’s idea of fixing the housing crisis says a lot about the mindset that created it. After decades of central banks inflating asset prices through artificially low interest rates and easy credit—making homes unaffordable for an entire generation—the proposed solution is… more taxes.

Tax equity. Raise property taxes on people who paid off their homes. Squeeze the middle class again to “help” the younger generation. This is the classic banker solution: create the bubble, then pretend to save us from it by extracting more from those who played by the rules.

It’s redistribution without reform. None of it addresses the core issue: monetary debasement. Homes didn’t become unaffordable because of “free markets”—they became unaffordable because homes were hijacked as financial assets in a system where money itself is broken.

Now imagine a different approach.

What if instead of taxing equity, we shifted store of value demand away from housing and into an asset with no ceiling—Bitcoin. Put Bitcoin on the balance sheet. Manage inflation transparently. Let capital seek yield in an open monetary protocol rather than hiding in real estate. Over time, that rebalances incentives—homes go back to being shelter, not speculative vehicles.

Done right, this strategy could draw housing costs down from the insane 8x–22x income range we’re seeing now to something sane again—like 3x household income. And it does that without punishing those who already own, or pushing people further into dependency on the state.

One model leans on coercion and policy band-aids to mop up after its own failures. The other is a structural fix that reorients capital away from scarcity games and toward open markets.

We have a choice: keep trusting the people who broke the system—or build something better, from the ground up.

Bitcoin is that path. Not utopia. Just reality-based monetary architecture.