In recent years housing has become the byword for “affordability crisis.” How about Wall Street as the solution? Some will scoff at the very notion of big financial institutions as the answer for greater home attainability, but the profit motive and big bonuses are precisely rooted in turning scarcity into abundance.
Take long-distance calling. Back in the 1970s, AT&T could claim a 100 percent monopoly such that a caller in Dallas got right to the point when the phone was answered in Fort Worth. Thankfully, intrepid capital made it possible for companies like MCI to enter a market sector thought to be impregnable, only for the price of long-distance calling to begin a long slide downward.
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