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The elephant in the room is housing was turned from a utilitarian good into a speculative asset. This is capitalism in its purest form.
by PeterStuer 3y ago
The elephant in the room is housing was turned from a utilitarian good into a speculative asset.
This is capitalism in its purest form.
- rank0 3y agoWhy don’t you go put your money where your mouth is and go build homes for free. Capitalism is the only reason developers create shelter in the first place…
- bendergarcia 3y agoI think you literally proved his point. It’s because capitalism that developers only build profitable properties. They will not build anything that devalues their own portfolio. That’s just capitalism for you.
- rank0 3y agoIm trying to lead him to the conclusion that “capitalism evil” is a silly stance. Why aren’t you and GP out there building houses for a loss? None of the people complaining about capitalism ever actually practice their own ideals. Anyone is free to start a non-profit org that builds homes and you can still cut yourself + employees a salary.
- PeterStuer 3y agoI did not say 'capitalism evil'. It has its strong and weak points. It is just that enlisting everything and everyone on the planet into a pure financial model that can be leveraged for rents and speculaion is what it is about.
- bendergarcia 3y agoIt’s so simple: Real estate is investment and no one ever wants their investments to devalue. And the only way to slow stop or even decrease housing is to devalue it by building beyond what’s needed. No investor will ever do that. It is capitalism in its purest form. And no kind of free market will fix this issue.
- rank0 3y agoAnytime you think you have a simple explanation for a complex problem it should raise red flags in your head. Developers absolutely want to build and sell as many homes as possible. Private enterprise is literally what created all the shelter in the first place. Who else is gonna build shelter? It definitely isn’t gonna be the government…