A lot of homes going to come onto the market in the next 20 years. Banks and hedge funds will buy them to rent out, but supply will hugely outstrip demand. They will let them rot before selling them though.
Does this Mike Layne goober not KNOW that Blackrock is literally literally going to buy every piece of housing on the planet, so his witty little gotcha falls completely flat?
My liability is the reason i have about 600k now. Had nighttime job during studies and had the chance to get my own place. At some point i pulled more money out of the free value and put it into stocks. Not sure how you see it as a liability
100% this. If an apartment or house is unoccupied for 4 or more months out of the year, increase the property tax by 1000% force people to fight to get tenants again, rather than making sitting on empty properties financially rewarding!
Yeah. It obviously isn't sustainable in any way. That doesn't mean the people with all the money wont keep acting like it is until they die however. The only way we survive as a species, is get rid of capitalism. Money is incompatible with civilization moving forward. It was ALWAYS about winners and losers, and the winners just keep winning till there isn't anything left to win and everyone is dead.
The worst part about what you just said, is that the current set of "winners" are a bunch of fuckin child molesting losers who cheated to get where they are.
Well, I'm at the age where luck doesn't enter into it, it's just not financially viable (or responsible) for me to try home ownership. I've made my peace with it.
jeejeejerrycotton
Does this Mike Layne goober not KNOW that Blackrock is literally literally going to buy every piece of housing on the planet, so his witty little gotcha falls completely flat?
wargames
average age of a new home buyer is 59.
CatPlanetQueen9000
you mean i still have time! /s
natebitatibetan
A home is a liability, not an asset.
Mohareb
My liability is the reason i have about 600k now. Had nighttime job during studies and had the chance to get my own place. At some point i pulled more money out of the free value and put it into stocks. Not sure how you see it as a liability
jeejeejerrycotton
A home is a home, not a liability or an asset.
narcoleptiKnickers
Increase property tax exponentially for each unoccupied residential or commercial unit.
DrBlackJack
100% this. If an apartment or house is unoccupied for 4 or more months out of the year, increase the property tax by 1000% force people to fight to get tenants again, rather than making sitting on empty properties financially rewarding!
jeejeejerrycotton
That has been proven to work, but only in civilized societies.
Eyeetsass
I think after this regime we should open ourselves to these concepts, and rebuild our society, and make it hostile to billionaires.
Kablooeeey
Yeah. It obviously isn't sustainable in any way. That doesn't mean the people with all the money wont keep acting like it is until they die however. The only way we survive as a species, is get rid of capitalism. Money is incompatible with civilization moving forward. It was ALWAYS about winners and losers, and the winners just keep winning till there isn't anything left to win and everyone is dead.
whoatherebigfella
Whats the alternativo to capitalism?
Shouldhavethoughtthisthroughabitbetter
The worst part about what you just said, is that the current set of "winners" are a bunch of fuckin child molesting losers who cheated to get where they are.
ipointoutnahtzeesbyreplyingtothem
To anyone who's about to chime in, "What, so you can't buy or sell anything??": You don't understand capitalism.
MidoryMoon
I gave up on owning a home, there's no real point anymore.
lucivjov
I did too and then a few lucky things seemed to happen. Don’t give up, but don’t get dependent on the dream either
MidoryMoon
Well, I'm at the age where luck doesn't enter into it, it's just not financially viable (or responsible) for me to try home ownership. I've made my peace with it.