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People who made a $50k leveraged bet which is now worth $1M are who we're supposed to ruin our schools, parks, infrastructure and housing market for?

• jjav 6y ago
  > People who made a $50k leveraged bet They did not "make a leveraged bet". They bought a home to live in and watch their child grow in it. Not everyone looks at real estate as a investment vehicle to maximize profits. It's just a home. It's not healthy for society to view homes merely as if they were shares of stock to be traded for maximum value. If you want to make leveraged bets, better to play the options market.
  • rcpt 6y ago
    Oh ok great. So how do I buy one of these "just a homes"?
    • jjav 6y ago
      Find a city and neighborhood you like and are interested in setting roots there for the long haul. Find a house that you love that can be a forever home for your preferences. Don't think of it as an investment to flip. Think of it as home. After the purchase, no need to ever look at the property value estimates again. Just live it.
      • rcpt 6y ago
        Somehow you left out the whole part about actually buying the house. Maybe your feel good spiel would make sense if price-to-rent ratios weren't the highest but that's not the case. Most of what you pay for here is a bet that values will go up. If it weren't for stupid laws like Prop 13 that only help land speculation this wouldn't be the case.