these capitalists don't want to build properties - any kind of property - do they? as opposed to radical social democratic societies where housing is abundant and cheap?Capitalism will inherently lead to wealth condensation, which is the main factor behind increasing house (land) prices.
Nothing you can do about it short of some sort of radical social democratic politics, which most people won't vote for.
Also noteworthy that assortative mating also has a significant effect on increasing income/wealth disparity among households, and that's an entirely voluntary and extra-political phenomenon.
how many boomers own 3-4 houses?This. And because boomers often own 3-4 houses.
In my area, all new construction neighborhoods are being constructed with extremely large homes intended for families (>3,000 sqft). But instead they are being bought exclusively by the cohort that most definitely does not need such large houses -- the boomers. This creates scarcity which in turn drives up prices, such that these homes cost > 2million and are unaffordable for working families. That’s right — you’ve got one or two geezers living in 3,500 sqft house so that families with young kids are forced into micro-apartments. As you might imagine, it makes for a horrible sense of community and justified anger amongst the younger generations that did not cause this mess.
what is the fraction of houses are classified as secondary use? (low single digits).
are boomers letting these 3-4 surplus houses sit empty? are people amassing $2.0M * 3.5 houses = are letting $7M in real estate sit vacant? What happens when they're not vacant? (they're occupied... by families).
and you think "working families" would still be competing for these 3,500sqft $2M houses anyway if you peeled boomers out of that market? so they would be fight over... $1.7M houses instead?
emotive class warfare dialogue is not very constructive.
Statistics: Posted by hunoraut — Tue Jun 18, 2024 3:30 am — Replies 84 — Views 4060