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The car industry is far worse. The vast majority of Americans are driving cars they can't afford. > I know Blackrock and other parasites are scooping up housin
by nojito 5y ago
The car industry is far worse. The vast majority of Americans are driving cars they can't afford.
> I know Blackrock and other parasites are scooping up housing too, but that's not the majority of buying.
This is generally a good thing because it drives prices down
- bonestamp2 5y agoHow does reducing the already limited supply even further, drive prices down? I always thought that when demand is high and supply is low, prices go up?
- nojito 5y agoThere are way more renters than there are home buyers.
- mpmpmpmp 5y agoHow does it drive prices down when speculators are buying up residential houses and outbidding regular people?
- nojito 5y agoBecause many more people can afford rent as opposed to taking on a mortage.
- deleted 5y ago[deleted]
- 88 5y ago> The vast majority of Americans are driving cars they can't afford. How do you define whether someone can “afford” a car? Surely by definition the people can afford the cars, otherwise they would be repossessed? If you mean they cannot afford to buy the cars outright, why is that an issue?
- nojito 5y agoJust because you don't lose your house doesn't necessarily mean you can afford to keep it. At a certain % of income, owning an asset doesn't make much sense due to how it affects your financial security.