4 ms·

The straw man where some dude is like “hey I need your money more than you” and I’m like “could we not?” Look I get it, it’s annoying to live in a dump where s

The straw man where some dude is like “hey I need your money more than you” and I’m like “could we not?” Look I get it, it’s annoying to live in a dump where so many people live in public for whatever reason (lack of educational opportunities, structural racism, gender violence, poor healthcare, you name it, I agree it’s important) but if thirty percent of my income isn’t helping I sincerely doubt fifteen percent of my house is going to help much either. Sadly, I just don’t have that much to give.

rowanG077 3y ago
That is precisely not what would be happening. No money changes hands. An investment is a risk. It can devalue for arbitrary reasons. This is not theft. This is not wierd. This is how it works. No one stole anything from the person/company that invested in property.
- singleshot_ 3y ago
  I’m glad you were here to explain this to me like I was a child! But you have contradicted yourself. My “investment” (a strange thing to call my home but if you are more comfortable using your weird language constructs, so be it) is not being devalued for “arbitrary reasons” under your plan. Instead, it would be systematically torpedoed using the same old combination of the political system plus my money, with the additional kicker of some of the value of my home. No, sir, what you are considering is not an arbitrary reason why my investment might decline, but a concerted political effort to shift the value of my home away from me. Proposal: you should remain living in Europe and I will hope that your plan is successful where you live.
  - rowanG077 3y ago
    A government deciding to change course is most certainly an arbitrary reason in the grand scheme of things. If it's not an investment then there is no problem for you. You continue to own your house, nothings changed. No one comes to take the house from you. You can keep living there. You exchanged money for the utility of owning a house. The utility of the house won't change. So I'm not sure why you are so salty about the proposal. Besides, it wasn't my proposal. I'm not arguing for or against it. I only called out your strawman.
    - ivan_gammel 3y ago
      As the author of original comment I have nothing to add to this. Explained perfectly.
      - singleshot_ 3y ago
        So what's your take on mortgages? If my house happens to be underwater after the Purge or whatever we're calling your rearrangement-of-the-markets, am I just trapped there until I pay off the loan? Pretty dismal if so.
        ivan_gammel 3y ago
        Property bubble bursts happened before and margin calls happened before. Investors who borrow the money must always consider the risk of market going down for various reasons. But realistically, a SOE intervening on the market won’t be able to create an oversupply in years. More likely it will require decades — long enough to pay significant part of the mortgage and balance the remainder with current prices.
    - singleshot_ 3y ago
      My straw man of "you are not welcome to my property." I believe we have covered this ground! Imagine, if you will, a place where all of a sudden, they did this. Subsequently, some of the people who live there wanted to leave. But they couldn't because they were trapped in their five hundred thousand dollar house. If they sold it, they couldn't pay off the mortgage because now it's worth three hundred thousand dollars. Would they be salty? Why or why not?
      - rowanG077 3y ago
        That's the choice they made when they signed a mortgage they had no chance of paying off. If you don't want to bear that risk then don't get a mortgage.
        singleshot_ 3y ago

rowanG077 3y ago

That is precisely not what would be happening. No money changes hands. An investment is a risk. It can devalue for arbitrary reasons. This is not theft. This is not wierd. This is how it works. No one stole anything from the person/company that invested in property.

singleshot_ 3y ago
I’m glad you were here to explain this to me like I was a child! But you have contradicted yourself. My “investment” (a strange thing to call my home but if you are more comfortable using your weird language constructs, so be it) is not being devalued for “arbitrary reasons” under your plan. Instead, it would be systematically torpedoed using the same old combination of the political system plus my money, with the additional kicker of some of the value of my home. No, sir, what you are considering is not an arbitrary reason why my investment might decline, but a concerted political effort to shift the value of my home away from me. Proposal: you should remain living in Europe and I will hope that your plan is successful where you live.
- rowanG077 3y ago
  A government deciding to change course is most certainly an arbitrary reason in the grand scheme of things. If it's not an investment then there is no problem for you. You continue to own your house, nothings changed. No one comes to take the house from you. You can keep living there. You exchanged money for the utility of owning a house. The utility of the house won't change. So I'm not sure why you are so salty about the proposal. Besides, it wasn't my proposal. I'm not arguing for or against it. I only called out your strawman.
  - ivan_gammel 3y ago
    As the author of original comment I have nothing to add to this. Explained perfectly.
    - singleshot_ 3y ago
      So what's your take on mortgages? If my house happens to be underwater after the Purge or whatever we're calling your rearrangement-of-the-markets, am I just trapped there until I pay off the loan? Pretty dismal if so.
      - ivan_gammel 3y ago
        Property bubble bursts happened before and margin calls happened before. Investors who borrow the money must always consider the risk of market going down for various reasons. But realistically, a SOE intervening on the market won’t be able to create an oversupply in years. More likely it will require decades — long enough to pay significant part of the mortgage and balance the remainder with current prices.
  - singleshot_ 3y ago
    My straw man of "you are not welcome to my property." I believe we have covered this ground! Imagine, if you will, a place where all of a sudden, they did this. Subsequently, some of the people who live there wanted to leave. But they couldn't because they were trapped in their five hundred thousand dollar house. If they sold it, they couldn't pay off the mortgage because now it's worth three hundred thousand dollars. Would they be salty? Why or why not?
    - rowanG077 3y ago
      That's the choice they made when they signed a mortgage they had no chance of paying off. If you don't want to bear that risk then don't get a mortgage.
      - singleshot_ 3y ago