2 ms·
I see a lot of millenial/gen z commenters complaining that the previous generations were able to build wealth by buying affordable homes and watching them appre
by tootie 4y ago
I see a lot of millenial/gen z commenters complaining that the previous generations were able to build wealth by buying affordable homes and watching them appreciate faster than inflation. And they want in on the same deal. It's simply not possible. For one, we haven't built housing to keep pace with population growth which skews supply and demand. NIMBYs are a big reason why. Secondly, in order for a home to be a valuable investment, it must by definition become less affordable for the next generation. Otherwise, it's not increasing the wealth of the owner. The only sustainable option is to match supply to demand such that houses pace or even lag inflation which makes them no longer be a viable store of wealth and instead remain affordable and available to everyone. The Boomers got a sweet deal and realistically, no one should ever get that deal again.