"The monetization of Real Estate is one of the greatest evils of our time" I read this quote on twitter, and I couldn't agree more. Essentially what we've had in the last 10-20+ years is a race between investment firms, the already rich, and the boomers to gobble up all housing (which is a basic, core necessity) so that they could push up prices and profit off the end consumer (you). In the meantime, they've been passing laws preventing the construction of new homes. These are the types of boomer mfs doing this to us: https://twitter.com/wallstmemes/status/1561478706270507010 . And while you've been desperately saving, the government has been inflating the dollar away, widening the wealth gap, reducing the cost of your savings, and making home owners even richer and richer. And we're on a forum of well to do professionals, imagine how it is for the working class. This system isn't sustainable, and God willing we will have a crash and these guys will get washed out.
If this guy manages to buy a house, he will be exactly on opposite side of spectrum.
I can afford a house, I'm just young (26) so I have no need to settle down
OP hasn't realized cars, alcohol, gas, shoes, food, red bull, and everything else in America has also gone up in price over time 🤡
A better quote I heard is that houses are the biggest products of a bank It is in the bank interest to raise prices, control supply and make housing a dream you spend your life paying it back rather than a right you have
That 'boomer' isn't wrong, enjoy being poor.
Own multiple houses in the Bay Area and other states. I’m not complaining, just enjoying the American Dream 🇺🇸
That's not the American dream though
Strong r/antiwork vibes
Couldn’t agree more with the sentiment. I’ve lived in Sydney and Vancouver, it’s messed up.
I think there is some truth to private equity firms buying up real estate to push up prices… but NIMBYism is the bigger problem. Supply is low due to a lot of regulations that give local home owner groups way too much power to shoot down development.
The reason why European poor people migrated to the new world was because of entrenched powers locking people out of the wealth ladder through laws. America was a reset. Today, even America is like old world Europe. The only way to live is debt to investors.
Sad that even democracy is unable to lessen the gap
💯 Majority of my family are part of the working class and i feel so bad that they may never own a home or close the gap. I do complain sometimes about it, but I know that I’m fortunate to even be where I am and at least the gap is a lot smaller than those who live paycheck to paycheck.
How do you feel about the working class able to own in the 1970s… seems unfair no? That people from previous generation could have it, especially in California.