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The median house price in my city is $3m, that’s pretty absurd based on prices 10/20/30 years ago. And that’s not even the issue, when a house does go on the ma
by EddySchauHai 4y ago
The median house price in my city is $3m, that’s pretty absurd based on prices 10/20/30 years ago. And that’s not even the issue, when a house does go on the market it’s sniped by the ultra rich - like Zucks housing complex he’s built from single house properties to get around planning rules.
- shaburn 4y agoThat's an anomaly that has probably worked out pretty well for you right?
- epistasis 4y agoDepends on "working out" means personal financial gain on a single asset, or "working out" means a good community that is welcoming to new people. Sounds like this poster is more community minded and less greedy. And this is not an anomaly, it's the norm. The $3M communities are just the leading edge, and every area with any economic opportunity will be there soon unless we do something to address this desperate shortage of houses.
- shaburn 4y agoThe mathematic improbability of 1% of US communities with "any economic opportunity" reaching an average home price of $3mm in the next few decades is <1% without a total collapse of the dollar, thus likely any economic opportunity it brings.
- kelnos 4y agoNot if they're renting... And that's kinda beside the point, isn't it?
- EddySchauHai 4y agoI’m definitely renting!
- shaburn 4y agoYet this crazy capitalist rent system allows people from anywhere in the world to come rub shoulders with their billionaire neighbors of 1/999,999th the investment and possibly make immense fortunes while changing the world, while both wear sweats. The tragedy of it all. Duped of the opportunity to live happily and congruently in somewhere like North Korea where they would certainly find the same opportunity and influence.