3 ms·
> Democrats hate losing asset value as much as anyone else. There's a reason for that. Home equity is one of the crucial pieces of being able to comfortably r
by psunavy03 3y ago
> Democrats hate losing asset value as much as anyone else.
There's a reason for that. Home equity is one of the crucial pieces of being able to comfortably retire, and the largest component of most middle-class people's net worth.
- FooBarBizBazz 3y agoWe'd be better off with more wealth in index funds, and cheaper houses. When the British Empire wanted to reduce the value of an important asset, in that case by criminalizing it -- I'm talking about slavery -- they paid reparations to the "owners", basically to bribe them into accepting the change to society. We may likewise need to bribe homeowners to ram through the necessary changes.
- jkestner 3y agoWe've shifted from a manufacturing to a service economy, hence the focus on moving unionization to that sector. Going from home ownership/pensions to... nothing as a retirement plan is a similar generational shift that political parties must learn to navigate (cheap housing, UBI, criminalizing homelessness, etc), but apparently not before the baby boomers dwindle.