4 ms·
Well said. Somewhere along the line house-owners became endless cash-cows for bankers and got political support. I guess an asset-owning class is deemed a more
by dredds 6y ago
Well said.
Somewhere along the line house-owners became endless cash-cows for bankers and got political support. I guess an asset-owning class is deemed a more stable reliable voter in this scenario. Renters are just so many fish in the sea.
Moreover, politicians advocated house ownership as a solution to an economy's woes. The mortgage-holders are tied in to life-long jobs (when jobs were for life) and continue plowing money into their asset endlessly. Kinda like buying the latest fashion of car year-after-year in a consumer driven economy, where just getting from A-to-B is no longer the real objective.
Now we are seeing a younger (wiser) generation who saw their parent's treadmill for what it truly was and are rejecting that path by opting for tiny homes or mobility etc.