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re: The average 50 year old in the U.S. is now a millionaire.
Posted on 1/15/24 at 7:05 pm to Motownsix
Posted on 1/15/24 at 7:05 pm to Motownsix
Such a dumb, click-bait article. Let's break it down:
1/ That huge gain is because the fed has fricked up the real estate market beyond belief. Cheap money + market panic + a never-ending flow of new renters means the real estate market is artificially inflated. Reduce the inflow, increase interest rates, or reduce regulation/market controls and real estate will go back to a logical place. On the flip-side, keep adding 300k families to the market every year and yes, real estate will keep going up.
2/ Acting like Gen-X didn't suck every biz-dick required to get to an attractive net-worth is lame and gay. Go frick yourself. Hard workers get rewards; news at 5.
3/ The market self-corrects. Ne'er-do-wells/ wealth-inheritors that do not deserve their inheritance ALMOST ALWAYS put their assets back in to the system because they are incapable of not losing their fortune. The system fixes itself.
Another idea to re-normalize: Do something about AirBnB culture. When every cheap option is owned by a soyboy doing short-term rentals the market can get distorted. Maybe they should play by the same rules as hotels/motels?
The entire article is clickbait marxism. They can EAD.
1/ That huge gain is because the fed has fricked up the real estate market beyond belief. Cheap money + market panic + a never-ending flow of new renters means the real estate market is artificially inflated. Reduce the inflow, increase interest rates, or reduce regulation/market controls and real estate will go back to a logical place. On the flip-side, keep adding 300k families to the market every year and yes, real estate will keep going up.
2/ Acting like Gen-X didn't suck every biz-dick required to get to an attractive net-worth is lame and gay. Go frick yourself. Hard workers get rewards; news at 5.
3/ The market self-corrects. Ne'er-do-wells/ wealth-inheritors that do not deserve their inheritance ALMOST ALWAYS put their assets back in to the system because they are incapable of not losing their fortune. The system fixes itself.
Another idea to re-normalize: Do something about AirBnB culture. When every cheap option is owned by a soyboy doing short-term rentals the market can get distorted. Maybe they should play by the same rules as hotels/motels?
The entire article is clickbait marxism. They can EAD.
This post was edited on 1/15/24 at 7:25 pm
2
Posted on 1/15/24 at 7:23 pm to Buds4
I am always intrigued by who downvotes a post that is obviously truthful and pragmatic. So many weak men these days that think they *deserve* something. How about you man-up and fight like your Gen-X daddies had to do? Weenies.
Posted on 1/15/24 at 7:36 pm to Buds4
quote:cope
Ne'er-do-wells/ wealth-inheritors that do not deserve their inheritance ALMOST ALWAYS put their assets back in to the system because they are incapable of not losing their fortune. The system fixes itself.
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