B) You can still get cheaper housing if you don’t live in the whitest, red-lined-ass, suburban enclaves in your state
C) Even then, it doesn’t matter, because landlords primarily benefit from very low borrowing costs rather than low housing costs. A $300k house was still functionally unaffordable to anyone earning $45k/year, unless your credit score got you one of those sweet sub-3% ZIRP era loans. Renting was effectively paying a vig to a guy with a better interest rate than you.
D) ZIRP also flooded the market with the excess cash that made $300k basic bitch housing possible. And then turned those $300k homes into $600k homes 15 years later.
E) Build Public Housing
F) And municipal mass transit, so you don’t have to sit in traffic for a hour every day
Just pass a law taxing the shit out of single family homes used for income and a bigger tax on empty houses. Use the revenue to help people who go upside down on their mortgages due their primary residence due to the crash in housing prices.
Just pass a law taxing the shit out of single family homes used for income and a bigger tax on empty houses.
A simple reform in theory, but incredibly difficult to pass through a legislature that’s stuffed to the brim with real estate lobbyists and their clients.
A) This is a hoax account
B) You can still get cheaper housing if you don’t live in the whitest, red-lined-ass, suburban enclaves in your state
C) Even then, it doesn’t matter, because landlords primarily benefit from very low borrowing costs rather than low housing costs. A $300k house was still functionally unaffordable to anyone earning $45k/year, unless your credit score got you one of those sweet sub-3% ZIRP era loans. Renting was effectively paying a vig to a guy with a better interest rate than you.
D) ZIRP also flooded the market with the excess cash that made $300k basic bitch housing possible. And then turned those $300k homes into $600k homes 15 years later.
E) Build Public Housing
F) And municipal mass transit, so you don’t have to sit in traffic for a hour every day
I hope so. The dissonance and lack of self-awareness in the post was so profound, my head is still ringing.
I saw quite a few Chase Passive Income posts and all of them feel like satire
I agree with everything you said but
That can be too far away from work, or if you move to an LCOL area, you’ll find the wages are also lower and you’re still poor.
Just pass a law taxing the shit out of single family homes used for income and a bigger tax on empty houses. Use the revenue to help people who go upside down on their mortgages due their primary residence due to the crash in housing prices.
A simple reform in theory, but incredibly difficult to pass through a legislature that’s stuffed to the brim with real estate lobbyists and their clients.