Buying a house was once a sound financial decision. Post-pandemic, in most big cities, it no longer is.

The elimination of starter homes cuts the lower rung on the housing ladder, which means a lot of people are no longer going to climb it at all. So we're going to see a sharp generational shift toward households being life-long renters. And as the renter population becomes more affluent, older, and more politically active, we're going to see a big shift in urban politics to reflect that.