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The second great period of serfdom has already begun. Look at the current crop of startups and what the average millenial (and older) is doing to make money...
by tomc1985 8y ago
The second great period of serfdom has already begun. Look at the current crop of startups and what the average millenial (and older) is doing to make money... Uber, contract employment, renting, leasing.... nobody owns anything anymore unless you're doing well, which is increasingly rare
- smsm42 8y agoGiven you can't buy a house under $1M in pretty much all Silicon Valley by now, how rare it is? There are tons of houses and somebody buys them. So unless that's a dozen people who are buying all the houses - which I don't see the evidence of, e.g. lots of empty houses or massive rent/own ratio shift - somebody is doing well enough to buy those $1M houses.
- TeMPOraL 8y agoInvestors using them as store of value / for rent income, instead of a place to live?
- smsm42 8y agoThere should then be people that a) can afford $1M investment and b) can afford rent prices that justify $1M investment.
- yifanl 8y agoHousing is simultaneously a necessary good and an investment opportunity. As soon as someone realizes this, you can practically see the dollar signs light up in their eyes.