4 ms·
Well, why can't real estate work the same way?
by madeofpalk 4y ago
Well, why can't real estate work the same way?
- TheRealDunkirk 4y agoThe counter example to the OP's point about housing is agriculture? When we just had a story about how Bill Gates is now the US's largest land owner? When Farm AID was started to assist local farmers from corporate encroachment 40 years ago?! This whole thread points out how people who claim that the US has free markets are really deluding themselves. The FEDERAL government is heavily involved in EVERY non-trivial aspect of our PERSONAL lives, and they pick the winners and losers. It truly, truly sucks, but this trend of investment banks getting involved in buying up real estate, and driving up prices of home ownership is NOT going to go away. Owning a home will become so expensive that only corporations will be able to do so, and rent/lease it back to you. We truly are becoming a capitalistic country, and either you'll have "capital," or you won't. It's modern feudalism.
- andy_ppp 4y agoI'll try, because the incentives are totally different. Food will perish if hoarded and you need a constant supply of it. Housing and real estate is the opposite, it's in almost everyone's interest that land values and property go up over time, especially the people who currently own it which includes politicians and probably around 50% of people. There is also price competition in the food market, which property developer out there competes on value? They all compete on perceived quality, the square footage and where they can buy land.