1. The Global Homology of the Housing Crisis
The United States thinks it is the subprime crisis. The UK thinks it is runaway house prices. China thinks it is a real estate bubble. Germany thinks it is the failure of rent control. Korea thinks it is the jeonse deposit system. They are all the same structural crisis — land value is captured privately, and housing has been turned from a basic human right into a class privilege.
2. GL Diagnosis: The Delivery Ratio of Housing
- Fs (Flow Success Rate): How many families actually obtain affordable housing?
- Pd (Process Duration): How much time and effort are spent applying for social housing, waiting in queues, and processing mortgages?
- Cf (Complexity Factor): Land supply monopoly, real estate financialization, lack of tenant rights.
The GL value of housing is not measured by homeownership rates, but by whether people obtain dignified living space.
3. The Way Out: The Public Return of Land Value
A portion of land value increment should be earmarked for public housing. This is not "additional expenditure" — it is the social return of land value increment. Only when land value is captured publicly can housing return to being a basic human right.
The shared delusion is not that countries don't build housing. It's that they treat housing as a commodity first, and a right second — and when land value is captured privately, the people are priced out.
This essay is part of the Shared Delusion Series.
It diagnoses why every country believes its crisis is unique — and points to the structural root that all share.