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Once you understand fiat and feel inflation affect your buying power the fact property is an option as an investment at all to normal people is a Godsend. Like
by whywhywhywhy 1y ago
Once you understand fiat and feel inflation affect your buying power the fact property is an option as an investment at all to normal people is a Godsend.
Like what asset could non-investment savvy people move their increasingly worthless savings into otherwise?
- carlosjobim 1y ago> Like what asset could non-investment savvy people move their increasingly worthless savings into otherwise? Investing in businesses bringing jobs and prosperity to their community, their people, their nation. Or investing in their children to help them start out in life and not live as serfs. But no, better to lock up all the money into non-producing assets and completely destroy the economy, progress and the birth rate. There's a reason why during most of history, your welfare in age depended on your children or extending that to your community. Any other system simply eradicates the people participating in it, as we see right now with rapidly diminishing younger generations, to the benefit of the olds.
- whywhywhywhy 1y agoStrange to be arguing for investing in children but against owning the roof over their heads, thus building community and stability. I don't see why people would be interested in investing in community businesses when I can't even guarantee I can live in that community long enough to see a benefit because I'm at the whim of the land owner and might have to just move somewhere else because I can't own anything.
- carlosjobim 1y agoBuying a house to put a roof over your head is not investing. Just like buying a bottle of water to quench your thirst is not investing.
- whywhywhywhy 1y agoIf it’s not investing why is my net worth rising after buying a house. Analogy is nonsense because you can’t sell the full bottle of water to someone else after drinking it.
- carlosjobim 1y ago> If it’s not investing why is my net worth rising after buying a house. Because of inflation. Your house is not producing any goods or services, as opposed to investments into the capitalist economy or taxes to the socialist economy.
- whywhywhywhy 1y agoActually the neighborhood got gentrified.
- LastTrain 1y agoI didn’t really place a value judgement on it, just made an assertion. My personal opinion is that if controlling housing prices is a goal you have to do it outside the market, but that is highly controversial and a non-starter in today’s America. Meanwhile the current orthodoxy of ‘upzoning’ prevails causing real damage to historic areas and mainly benefitting developers as far as I can see.
- pgwhalen 1y agoWhat does “causing real damage to historic areas” mean? Causing damage in what sense?
- LastTrain 1y agoThe umbrella of upzoning often includes relaxing historic review along with neutering enforcement of the same, resulting in the loss of historic structures to make way for new construction.
- pgwhalen 1y agoAh yes, absolutely. I love historic architecture as much as anybody, but I am not a NIMBY and would prefer affordable housing for current and future members of my community more than I would preserving some particular moment in time for myself.
- LastTrain 1y agoYep. Can't have a rational discussion of the merits we have to start with the NIMBY bullshit already. Because affordable housing is important doesn't mean that historic preservation is not. And vice versa. Have a good one.
- pgwhalen 1y agoI’m confused, what isn’t rational? NIMBYism in the form of historical preservation is perfectly rational, I don’t dispute that. Just noting that I favor housing affordability, which research suggests is at odds with this sort of NIMBYism.
- BobaFloutist 1y agoMoney market accounts and treasuries are beating inflation. Stock indices pretty much always neat inflation if you intend to hold your investments for more than 5-10 years.