4 ms·
What kind of logic is this? Nobody can save up to buy real estate for profit?
by mehphp 5y ago
What kind of logic is this? Nobody can save up to buy real estate for profit?
- totony 5y agoBuying more real estate than you use is hoarding. There is only so much liveable land. Out of all the things capitalism can apply to this is morally the worst.
- dcolkitt 5y agoExcept people don’t live on land. They live in homes. There’s plenty of empty land. But to house people you need to make the deep capital investment of building housing on that land. Capital accumulation requires capitalists.
- totony 5y agoThey live on both. There's a reason why cali/vancouver are so popular, it's because of their easy weather. Plus, the home you're buying is on land that's next to a bunch of utilities which are there because generations have worked towards them. Should you be able to hoard all of this (hospital, public transport, etc) just because you're "investing in housing" (which in most part is just sitting on empty houses to sell it to other people that need these utilities)? This is why vacant home ownership should be taxed to oblivion: you're profiting off something that isn't yours. The only reason the home is appreciating is because the land you're on is gaining value because it's either: - Most livable land - Has utilities - Has people living there that make the city attractive And owning a home participate in none of this without taxes. Not only that, your incentives are aligned with preventing people from building more houses so yours appreciate, which is a net negative for the city.
- LambdaComplex 5y agoBeing against the exploitation of a basic human need (i.e. housing/shelter) for profit seems reasonable to me.
- leshenka 5y agoSounds dangerously socialist to me