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When you build your society around making sure that housing will appreciate ("be a good investment") and point a firehose of cheap money at corporations, can yo
by QuarterReptile 5y ago
When you build your society around making sure that housing will appreciate ("be a good investment") and point a firehose of cheap money at corporations, can you really be surprised that they use it to buy up the federally assured good investment?
- claudiulodro 5y agoI think you've hit the nail on the head. If housing is both a safe and high-returning investment, why wouldn't corporations literally buy up as much as possible? Nobody expects retail stock investors to beat professional stock investment corporations at their own game, why is housing different?
- aaomidi 5y agoEspecially when the stock market is inflated as fuck (companies with nearly no YoY revenue are being evaluated at millions/billions of dollars). We need heavy taxation on investment/vacation property. Exception being if you've built it yourself on unimproved land.
- QuarterReptile 5y ago>We need heavy taxation on investment/vacation property. This sounds like a mess. Everyone builds larger houses because you have to keep all your tax-advantaged housing under one roof? Stickplex apartments, the seemingly only affordable new housing stock, get more expensive? I'm sure the negative consequences are endless.