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Ever increasing home prices is essentially sociatal wealth redistribution from the young to the old, as every following generation needs to pay a larger amount
by ffsm8 4mo ago
Ever increasing home prices is essentially sociatal wealth redistribution from the young to the old, as every following generation needs to pay a larger amount to the previous owners.
No wealth is being generated (no product is being created), that's why it is - fundamentally - a redistribution
- littlexsparkee 4mo agoNot just in housing - in policy and the social safety net (SS). There's a new book out on the subject: https://us.macmillan.com/books/9780374607647/gerontocracyinamerica/ https://us.macmillan.com/books/9780374607647/gerontocracyina...