4 ms·
> Rents for the poor are rising Because of the economical impact of locking down the economy and giving money to everyone. > Rents for the rich are plummeting
by jokethrowaway 6y ago
> Rents for the poor are rising
Because of the economical impact of locking down the economy and giving money to everyone.
> Rents for the rich are plummeting
Because they don't need to live in expensive central hubs to get their high wages and there is less demand for their luxury flats.
Also, this lax definition of rich people is exactly how the richest 1% can stay hidden.
- sombremesa 6y ago> get their high wages Wages? What are you talking about, the working class?
- Railsify 6y agoMany rich people still earn a paycheck. YOu can be on payroll making 500k and have a stock portfolio worth 10mill, this is common for boomers who started investing in the 70s and 80s. A portfolio of that size will easily throw off 500k in dividends a year. My point is that a large paycheck does not mean you are not paid wages. I get your point though, billionaires probably are not taking a salary.
- lotsofpulp 6y ago>You can be on payroll making 500k and have a stock portfolio worth 10mill, this is common for boomers who started investing in the 70s and 80s. A portfolio of that size will easily throw off 500k in dividends a year. What is your definition of "common"? Less than 1% of people have savings of $10M at retirement age, surely more than 1% of people started investing in the 70s and 80s. https://dqydj.com/retirement-savings-by-age/ https://dqydj.com/retirement-savings-by-age/
- ab_testing 6y ago> YOu can be on payroll making 500k and have a stock portfolio worth 10mill Or working on FAANGMULAT type of companies for the past many years.
- scottm01 6y ago>A portfolio of that size will easily throw off 500k in dividends a year. Where are you "easily" getting 5% dividends? Are those mythical W2 boomers suddenly into sketchy crypto "funds"? Vanguards "Dividend Growth" fund is yielding 1.71%. Total stock 1.33%
- tolbish 6y agoTheir money is also, ironically enough, invested in real estate.
- colinmhayes 6y agoATT 7% yield raised every year for the past 50 years.
- Railsify 6y agoThanks! I was imagining an actively managed portfolio. There are very few set it and forget it hole in one investments.
- MisterBastahrd 6y agoThis is not common for anyone, not even in SV.
- Railsify 6y agocommon among the rich people whose mansions are not selling well or have taken price cuts to get them sold.
- colinmhayes 6y agoMost of the people renting the expensive places talked about in this article are white collar workers.