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Tayyab - d/acc
@tayyab
One of the biggest issues with housing is that we’ve sold housing as an appreciative asset when it’s really a consumptive good. We cannot drive down the cost of housing without eroding people’s wealth. There is not a popular solution. But the dam will break, inevitably.
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BrixBountyFarm 🎩
@brixbounty
Get to watch this play out in Canada first I reckon… I’ve held a similar view in that it pushed too much speculation into the market and didn’t leave enough resources in household budget for other expenses (read: decent food). Cost of housing will come down in saturated boom markets, much slower in New England and other locales which have significantly under built for decades. Homes that need updating and aren’t all that big listed and under contract in our area for ~600K. Very tough for young families…
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Leo
@lsn
Land is an appreciative asset, bricks and mortar are not
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Omar
@dromar.eth
Yup Buffet has some great talks and mentions of this in his letters. To the extent that he feels renting for many people may be a better option vs buying if it suits their finances. I do think owning a modest home or land is vital. Just doesn’t have to be beyond means/mega mansion. But having rights to a piece of land ensures one’s basic needs are met and not a recurring cost if times change.
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Peter Ogilvie
@pogilvie
100%. We cannot “fix” the high cost of housing without hurting those that are vested in appreciation. Keeping supply low is a corner piece of nimbyism. Any ideas on how we can change course?
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