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> Why don't they deserve it? It's not about deserving it... it's basic supply and demand. If the house is desirable, people will bid up the price. People wit
by lordfrito 4y ago
> Why don't they deserve it?
It's not about deserving it... it's basic supply and demand. If the house is desirable, people will bid up the price. People with more money than young adults (older adults with more career experience) can afford to pay more and so will bid up the price on the most attractive housing until they get it.
I gave up air conditioning (among other things) for a few years to help save money for a down payment on my first house. What makes a person who didn't sacrifice/safe more deserving of the house than I (who can afford to pay more)?
A famous person once said "there are a million things in this universe you can have and there are a million things you can't have".
We all can't live in high rise penthouses and lakefront mansions. The whole point of markets and pricing/discovery is to decide who gets what. There's not enough for everyone.
- Miraste 4y agoThe rise in home prices isn't due to unrestricted market action, though. It's happening because of a patchwork of local regulations making it difficult to build new housing, and other worse concepts like California's neo-feudal Prop 13, on the one hand, and federal government money flowing into the system on the other. It's not supply and demand, it's very artificial and the market is blocked from reacting to it.