Did NIMBYs Kill the American Dream?, with Yoni Appelbaum
Capitalisn't
University of Chicago Podcast Network
4.5 • 584 Ratings
🗓️ 20 February 2025
⏱️ 45 minutes
🔗️ Recording | iTunes | RSS
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| 0:00.0 | The NIMBs are trying to kill the American dream, but I'm not willing to go up the fight just yet. |
| 0:05.8 | I'm Bethany McLean. |
| 0:07.4 | Did you ever have a moment of doubt about capitalism and whether greed's a good idea? |
| 0:12.7 | And I'm Luigi Zengales. |
| 0:14.1 | We have socialism for the very rich, rugged individualism for the poor. |
| 0:19.5 | And this is Capital Isn't, a podcast about what is working in capitalism. |
| 0:23.5 | First of all, tell me, is there some society you know that doesn't run on greed? |
| 0:28.0 | And most importantly, what isn't? |
| 0:30.0 | We ought to do better by the people that get left behind. |
| 0:32.9 | I don't think we shouldn't kill the capital system in the process. |
| 0:36.5 | The saying is so ingrained that most of us don't even stop to question it. |
| 0:40.9 | Homeownership is the American dream. |
| 0:43.7 | In fact, according to a 2003 survey, the vast majority of Americans believe owning a home is a |
| 0:49.3 | greater achievement than raising a family, getting a college degree, or having a career. |
| 0:53.9 | In the global financial crisis, home ownership, or at least housing, became the American |
| 0:59.3 | nightmare, not the American dream, but the American nightmare. You think that the housing |
| 1:03.5 | crash will have made housing affordable. Instead, it has become increasingly unaffordable. |
| 1:09.8 | According to the Black Knights's Home Price Index, |
| 1:13.2 | the average seasonally adjusted U.S. home price increased nearly 80% from April 2015 to April |
| 1:20.7 | 2023. Wow, 80%. There are lots of reasons for this, but the essence is that supply hasn't |
| 1:26.5 | kept up with demand. |
| 1:27.7 | Freddie Mac estimates it would take another 3.8 million units just to adequately house our |
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