“we need rich kids to squander their inheritance at lounges” (instead of, say, letting the state fund the best public university system in the country) strikes me as a personally reasonable but not particularly compelling argument
I'm going to spitball that maybe 5% of the people that I know that are generationally wealthy even vote and definitely aren't republicans.
I am unmoved at the thought of Larry Ellison's kids being unable to open the bar of their dreams someday
personally i think an estate tax is fucked up, but that's my own selfish pov if i ever amassed a fortune i'd love to be able to leave it to my children so they and their children never have to want for anything.
this is an argument against the state altogether just because the US has been a right wing state that has been dominated by the interests of capital doesn't mean it HAS to be that way. many countries do it and have far better outcomes than us.
GOP spends 40 years trying to break governments and destroy what social welfare state we have *see governments don't work!*
I literally said I was spitballing - based on what I would assume without doing any research other than just what I talk to friends about that are in that category.
Well we can’t keep depriving the state of taxes needed to fund important programs then turn around and say it’s broken too
i think the capital trust fund kids spend on bottle service and vacations is a waste of human capital and deleterious to society
yeah if its just some uber wealthy service industry that depends on that money it's both a tenuous industry with little utility and basically no social good so its good those people have jobs and income but a society that relies on that type of customer base can do better
Yeah I'm surprised Chattanooga wouldn't have a tighter market. Went to high school there and my aunt and uncle live there. Great place
Enjoying life is arguably the greatest "social good" Lyrtch - I will take you to Spearmint Rhino and prove this
In an attempt to get the thread back on track: This house sucks in every way other than location - rocking at 2.4 million https://www.zillow.com/homedetails/138-N-Almont-Dr-Los-Angeles-CA-90048/20515135_zpid/
There’s a ~16 unit condo on Ft.Myers Beach I’m trying to buy and convert into STR. I’ll need a live on site manager, interested?
O I have a job I want to be handed millions like you were so I can sit on a throne and talk down to other people as well
Who did I talk down to? We continue to lose the plot. OP’s first home is in the neighborhood of $750k… that’s a lot of money to normal people. No, I don’t empathize with two, white, college educated millennials with high paying careers and their struggle bus entitlement to live exactly where they want in a home they deem good enough. I’m sure the HVAC repairmen and his receptionist wife would also love to live closer to downtown Denver as well, that’s not a reality for them… ever. Bro will undoubtedly get there, just as most degree holders will too despite their debt, bc it’s amazing what an extra ~$3M (x2 if you’re married to a degree holder) in lifetime earnings will do to help one get by (Bro and his wife will blow through that number most likely). But hey, we earned it right, we have a piece of paper that tells us so. You have TWO!
^^^^ literally was handed 5 million in property in their 20’s. Why do all these people think institutions driving up home prices is ok???? Also who are you talking about in bold? I need someone to explain all this bootlicking to me
Institutional buying en masse has been going on for how long? Gentrified Denver was overpriced before that and it’s white college educated people who made it that way. Everyone wants to live in the same places, shocking. Did any of your degrees cover supply and demand?
this argument is silly because its just moving up the income chain of who is priced out of areas because of bad politics i think everyone should be able to live where they want, i don't judge
But not everyone can have a yard, a garage, extra storage space, a picket fence, a big oak tree with tire swing, etc. Maybe you need to explain that to some people. What happens to expectations when there’s a limited supply of “ideal” locations.
yeah i don't think thats the dynamic at play i want the janitors who work in my building to be able to have their housing needs met in the community they're employed
I get that you're not interested or care about this stuff because you're rich but stories have been written about record home buying by investors by plenty of media outlets. If you choose not to educate yourself on it that's fine, but don't act like you know what you're talking about if you can't be bothered to even read a couple of articles.
What came first BlackRock’s foray into SFR or a bunch of white college educated gentrifiers creating unsustainable housing markets in numerous metro areas across the country?
And we seem to be in agreement that most current “build up” projects amount to overpriced closets, yes? How does govt housing work when we all want to have the ocean view, no one wants the garden/courtyard view?
Why are you defending Blackrocks ability to buy homes when it's obviously exacerbating the housing shortage? And squeezing first time home buyers out of the market. Why would you even be remotely ok with that? I'm asking a serious question. Some of y'all are weird as fuck in your defense of these large corporations and capitalism above all else. I get it with you because you're a elitist piece of dogshit, but the rest not so much.
yeah again I don't think you remotely care about a good faith discussion with the claims you're making and there's no oceans here
Because I don’t focus on what exacerbated the problem, I focus on what created the problem; entitled white people with college degrees who have no issue pushing out non degree holders who grew up there.
Insurance, Father was a pioneer in options and dervatives so I learned about that at a young age. Would you like me to enlighten you about of the insane greed and atroicous practices in medical insurance? I would direct you to the insane shit that ihas happened to Vanderbilt in the Randonda Vaught case? Please enlighten me as to what part is fiction? Are you really that naive to believe that BlackRock gives a shit about people's wellbeing? You don't think they are gaining something from their porposed plan in terms of tax breaks, write-offs etc and PR, which will give them all sorts of leeway in Congress to avoid any laws being created to prevent them acquiring homes that will literally give them massive control over rent prices? Not to mention all the other benefiots that can be leveraged Are you honestly claiming you can't see where this is going? A company (DuPont)was allowed to poison the entire US and only had to pay 671 million to small group of people. Do you honestly think that if a company can get away with that that anyone is looking to what big hedge fund companies are doing? Fucking water became a commodity. You don't see a massive problem with that? Sand is also becoming a massive crisis. https://www.cnbc.com/2021/03/05/sand-shortage-the-world-is-running-out-of-a-crucial-commodity.html Put those three things together Housing being gobbled up by Black Rock Blackstone and so froth. Water being commodified Sand shortage, which is crucial to building. The fact that you can't or are unwilling to grasp had catastrophic these things are going forward is astonishing.
You must think everyone in here is stupid and doesn't know exactly who your dumb ass is. Unbelievable
He thinks he's slick but it would also require us to know absolutely nothing about him for that shit to work.
Not everyone. We literally had a gentrifier confession in here a few pages ago. I’ve been in this business for almost two decades. I rent to working class people. I’m not making shit up.
We bought our house in Lincoln just over a year and a half ago and it's now valued 80k above what we paid for it according to Zillow. But it's in Nebraska so we paid 210k for a 3 BR. Seriously Lincoln is a great place to live if you can handle the weather.
Yeah, dude he's choosing not purchase a house. Nevermind that housing is in such crisis stage that there are a significant amount of people are buying full cash well over ask without inspections. But sure, he's just choosing not to purchase a house.