4 ms·
To which you add, people that buy houses want to be able to sell making a large benefit. So you profit from using it (by living in it or renting it) and sell it
by ta988 4y ago
To which you add, people that buy houses want to be able to sell making a large benefit. So you profit from using it (by living in it or renting it) and sell it for more than you did put into it...
- ClumsyPilot 4y agoDo they plan to live in a tent after they 'used' the house and sold it? Because if they plan to buy a new house to replace the one they sold, they haven't made any money. And if they want to upgrade, they lost money and the price difference will have increased. The only case where you benefit from rising hoise prices is if all of your income comes from owning property, rather than working a job - i.e. you are a major landowner. If you are doing anything economically productive, from running a business to working a job, houae prices are a blood-sucking vampire squid.
- marcosdumay 4y agoPeople that had money 3 or 4 decades ago tend to own a few houses and get some income from renting. Also, older people think more about downsizing than about upsizing their homes.
- lupire 4y agoDo they also hate their children?
- wonderwonder 4y agoNope, I would bet a lot of these people had the means to gift their kids a nice down payment for their first home. That's why the best indicator of where you end up financially is where you start.
- ClumsyPilot 4y agodownpayment doesn't get you out of the hole -> you are still on the hook for decades, to keep sinking the majority of your earnings into that house. That's money lost to productive economy, and money lost to you.
- jjoonathan 4y agoThey want their children to rule in hell rather than serve in heaven. Not the wisest deal ever struck.
- antisthenes 4y agoWell, if we're doing pseudo-philosophical soundbites, then hell is other people. Better to rule than be ruled. At the very least it gives you a bigger safety net when you fall out of power.
- imtringued 4y agoThat is how you get in the mess in the first place. You are scared of being ruled by other people who are scared of being ruled by you. A true acracy, i.e. a classless society, is never even considered.
- vkou 4y agoThey can either downsize towards the end of their life, move to a less desirable housing market (because there are no jobs in it), or take a loan against their home.
- ClumsyPilot 4y agoNormally people optimise for their life, not for their eventual few years of retirement and death.