2 ms·

> Want to know how to never have to deal with a landlord? Own your own property! I feel sympathetic with the folks who are trying to buy into the housing marke

> Want to know how to never have to deal with a landlord? Own your own property! I feel sympathetic with the folks who are trying to buy into the housing market now. I could not reasonably afford my own house if I were buying it today, and I make pretty good money. There will be a reckoning at some point, this obviously cannot continue indefinitely. > We will be dealing with the fallout of the mass wealth theft/consolidation from COVID restrictions for decades to come. Yet another example of the road to hell being paved with good intentions. "Seemed like a good idea at the time!"

__turbobrew__ 5y ago
There will be a reckoning, the question is how long the market can stay irrational. I want to purchase a property to raise children in, but unfortunately my partner and I don’t necessarily have the luxury of waiting a long time to have kids for obvious biological reasons. In my country the majority (~60%) of citizens own their own home so the majority of people are riding the gravy train of skyrocketing prices while the others get priced out of home ownership. The reckoning may not happen until a sizeable majority is priced out of home ownership, and that may not happen for a decade. On the global stage I know I am very lucky when it comes to my lifestyle, but it is hard not to feel animosity for the generations which came before you and had it so easy when it comes to property ownership. The same owners who are now benefiting from your inability to afford a stable place to raise a family. I firmly believe that the new Singapore model for taxing non-primary residences is necessary to level the playing field between those who just want to have somewhere to raise a family and those who have billions in their pockets. I don’t believe my country has the will to enact such drastic changes so I am assuming the unaffordability crisis will go on for much longer than necessary.

__turbobrew__ 5y ago

There will be a reckoning, the question is how long the market can stay irrational. I want to purchase a property to raise children in, but unfortunately my partner and I don’t necessarily have the luxury of waiting a long time to have kids for obvious biological reasons. In my country the majority (~60%) of citizens own their own home so the majority of people are riding the gravy train of skyrocketing prices while the others get priced out of home ownership. The reckoning may not happen until a sizeable majority is priced out of home ownership, and that may not happen for a decade. On the global stage I know I am very lucky when it comes to my lifestyle, but it is hard not to feel animosity for the generations which came before you and had it so easy when it comes to property ownership. The same owners who are now benefiting from your inability to afford a stable place to raise a family. I firmly believe that the new Singapore model for taxing non-primary residences is necessary to level the playing field between those who just want to have somewhere to raise a family and those who have billions in their pockets. I don’t believe my country has the will to enact such drastic changes so I am assuming the unaffordability crisis will go on for much longer than necessary.