3 ms·

Why is it wrong to want to have equity in the place you live? "Ownership" could be a house, it could be a townhome, it could be flat. But in the US, "owning" an

Why is it wrong to want to have equity in the place you live? "Ownership" could be a house, it could be a townhome, it could be flat. But in the US, "owning" an apartment is very rare, while real estate investors buy up all the valuable land in the urban cores of cities and rent it.

jeffbee 1y ago
If you want equity in real estate nobody is stopping you. The problem is when people get this idea that we need to discourage investors from building very greatly desired rental housing.
- chrsw 1y ago
  This is the big problem with treating your home as an investment. People who just want a place to live near where they work now have to play this game too. And it's not cheap game.
  - JKCalhoun 1y ago
    That was what rentals were supposed to be. And then there was also such a thing as a "starter home". From what I see in Omaha, it's the developers that got greedy — figuring they could get more dosh turning a higher-end home than a starter home on the same lot.
    - tghccxs 1y ago
      That’s not greedy though? Are you greedy if you build more valuable software and then charge more for it?
      - unethical_ban 1y ago
        Of course it's greed. The question is how ethical the greed is in a given situation. If it's luxury software, no problem. If it contributes to a housing affordability issue, not so much.
- JKCalhoun 1y ago
  I'm pretty sure investors are persuaded by money and little else — if renting is profitable they'll build rentals.
  - JumpCrisscross 1y ago
    > if renting is profitable they'll build rentals The point is it's difficult and expensive to build in America. The core competency of construction in most cities is knowing how to grease the community boards', planners', affordable-housing advocates' and permitting offices' palms.
    - thehappypm 1y ago
      it isn’t really all that difficult, but it is difficult to build in the places that the jobs are. There are tons economically depressed towns that would absolutely love to have an infusion of property tax revenue
- unethical_ban 1y ago
  My problem is that the wealthy get wealthier while the middle class gets subjugated to permanent renter class. Go ahead, develop! And sell equity in the property. I've wondered if I would support my city requiring a certain percentage of dense urban lots be flats for sale vs. rental.

jeffbee 1y ago

If you want equity in real estate nobody is stopping you. The problem is when people get this idea that we need to discourage investors from building very greatly desired rental housing.

chrsw 1y ago
This is the big problem with treating your home as an investment. People who just want a place to live near where they work now have to play this game too. And it's not cheap game.
- JKCalhoun 1y ago
  That was what rentals were supposed to be. And then there was also such a thing as a "starter home". From what I see in Omaha, it's the developers that got greedy — figuring they could get more dosh turning a higher-end home than a starter home on the same lot.
  - tghccxs 1y ago
    That’s not greedy though? Are you greedy if you build more valuable software and then charge more for it?
    - unethical_ban 1y ago
      Of course it's greed. The question is how ethical the greed is in a given situation. If it's luxury software, no problem. If it contributes to a housing affordability issue, not so much.
JKCalhoun 1y ago
I'm pretty sure investors are persuaded by money and little else — if renting is profitable they'll build rentals.
- JumpCrisscross 1y ago
  > if renting is profitable they'll build rentals The point is it's difficult and expensive to build in America. The core competency of construction in most cities is knowing how to grease the community boards', planners', affordable-housing advocates' and permitting offices' palms.
  - thehappypm 1y ago
    it isn’t really all that difficult, but it is difficult to build in the places that the jobs are. There are tons economically depressed towns that would absolutely love to have an infusion of property tax revenue
unethical_ban 1y ago
My problem is that the wealthy get wealthier while the middle class gets subjugated to permanent renter class. Go ahead, develop! And sell equity in the property. I've wondered if I would support my city requiring a certain percentage of dense urban lots be flats for sale vs. rental.