4 ms·

Well before mortgages home ownership was about 2% and we had a very small number of people who owned all the real estate because people couldn’t afford it witho

• jongjong 4y ago
  A house would only cost around 5 years' worth of the median salary. Now it's like 15 years and that doesn't even account for the fact that taxes are way higher today and so it's much harder to save... With modern tech, things should be a lot better but for most people, it's worse, much worse. Salaries have not being keeping up with productivity gains as the economy has become anti-competitive by design. Every time money changes hands, it gets taxed maybe 30% on average... By the time $100 has changed hands 10 times, there is only $3 left out of it for the people (the rest went to the government). It centralizes everything around the government; money cannot flow too far from it. The modern economy is a giant social scheme with 0 merit. For many, it's hell on earth.
• oa335 4y ago
  Could you please share where you got that measure of “2% home ownership” before mortgages?