Luxury bones? In this economy.
Luxury bones? In this economy.
45 comments
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my parents were born in 1953 & 1954.
i was born in 1984. single income household, father is blue collar worker, mother is housewife.
when i was born, we lived in a big, two-story, full-size single family home in a high cost of living area.
when i was 3 years old (1987), my parents decided they wanted another house, so they bought one and we moved to an even higher cost of living area. they didnt sell the first house to afford a new one, they just bought another one and we had two houses.
what the fuck happened.
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Nobody thought that we will need someplace to live too. They bought up every plot for themselves and now that there are people who need it they want to get rich.
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It brings me joy when I hear of a location charging significantly higher tax for houses that are left empty
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People born in the 50s bought properties they didn't need or use and didn't sell them.
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Assuming you're American, your parents basically won the birth jackpot. The united states implemented a mixed economy shortly before the rest of the industrialized world was destroyed in a massive war, while we rapidly increased industrial capacity to aid the war effort.
Then right as that all slowed down shortly before you were born we began the process of neoliberalization. A process by which we received short term gains in exchange for giving up long term capacity and security. This kept the gravy train going for a while longer but it dropped the floor hard. And so we're paying the price, as the rich refuse to accept any less. Additionally the main fast cash we can squeeze out at this point is through ecological devastation that will cost us multiple times what we get fairly quickly.
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what the fuck happened
real state speculation.
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People speculate with cheap mortgage debt, nobody is spending their own money.
They could also just as easily be speculating that the currency will inflate and it will debase their debt, as the Fed does QE.
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what? people speculate with real estate. theres more vacant homes than homeless people in quite a lot of major cities around the globe.
they are bought up to appreciate and/or serve as permanent captive rent money.
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45 comments