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Many of my childhood friends have given up on the idea of ever owning a home, which is really tragic. Home ownership is a key driver of upward economic mobility
by austinl 4y ago
Many of my childhood friends have given up on the idea of ever owning a home, which is really tragic. Home ownership is a key driver of upward economic mobility, so the fact that a larger proportion of the most recent generation is locked out of this option is troubling for society generally. The wealth gap is only increasing.
I think landlords provide a necessary service in many circumstances, but these should be carved out in a way that separates them from speculative real estate investing. I think I agree with the idea that individuals that own more that 2 homes should be heavily taxed as a disincentive.
We also need major efforts to increase housing supply. I'm not seeing this in cities like SF or NY, but whenever I visit family in Texas or Indiana, it seems like they're building as fast as they can.
- MarkSweep 4y ago> Many of my childhood friends have given up on the idea of ever owning a home, which is really tragic. Home ownership is a key driver of upward economic mobility Can housing be affordable and a “key driver of upward economic mobility” at the same time? I guess if housing prices are flat at least you are getting equity for your money.
- nerdponx 4y agoThis. Home ownership should not be a driver of upward mobility. It's great for a lot of reasons, but buying a house is not supposed to be a profitable investment in general, unless you want exactly the situation that we have now.