The Stock Market Is Not The Economy Thread II

[Kaslo]

Unclear why a "corporation" owning an apartment building is meaningfully different than the company that currently owns it.

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I think he's referring to individual apartments, not the whole complex.

[Meresgi]

As long as homes are considered an investment it's never gonna get not shitty. Makes sense that people invest into it, because why not? There are so few paths available to make decent $$ that if I somehow stumbled upon a home I would probably rent it out as well for additional income and be part of the problem too (not gonna happen though so fuck all you landlords you're the problem!!!).

Homes should just be a place to fucking live and no part of your retirement portfolio or investment strategy. AirBNB needs to fucking die as well (and i hope it does since it now costs about the same as a hotel but with making you do your own dishes and clean and then paying for the privilege of cleaning).

[Zetanio]

I think he's referring to individual apartments, not the whole complex.

yep, no problem with a company owning a whole building.

[Mayareira]

yeh and again, you just need new stuff built and people utilizing the new stuff, the market does the rest. If we build 500,000 "luxury" houses or apartment units or whatever in the places that need housing, you'd see the middle sector housing prices moderate and drop. This is an observable trend.

See you know how they built all those houses are they're advertising them for a million+ bux? if no one actually buys them ever, the company will drop the price. you can't sit on that kind of carrying cost forever and the investors will demand returns. if all of those units are sold, the folks moving in will sell their current houses, etc etc etc all the way down the line. this is how home ownership grows. the problem is that you can't build enough new shit (esp multis) in a lot of places because of zoning/NIMBY/racism. There is a LOT of lip service paid to these kind of issues both in the news and across the internet. i see get to see it firsthand out here on the Cape because everyone's a fuckin loud and proud liberal until teachers and firefighters need fuckin local housing, then they need to grab their bootstraps out and pull.

Increase in supply doesn't always translate into a huge price drop in real estate, most investors nowadays can hold their breath through a dry period and will be very reluctant to have the price levels drop drastically.

There would be a marginal price drop at best and people will snatch it. Keep in mind that we are going through a huge wealth transfer through inheritance currently, in next two decades some 80 trillion USD is expected to be inherited by millennials and gen-x.

Really sorry for potential first time homeowners. I don't see price levels going down anytime soon.

[Gredival]

But part of the solution is to transition away from first time home buying. Like we need a fundamental shift away from the model where the goal is a single family home in the suburbs and to a model where people accept multi family dwellings.

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[Zetanio]

But part of the solution is to transition away from first time home buying. Like we need a fundamental shift away from the model where the goal is a single family home in the suburbs and to a model where people accept multi family dwellings.

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yeah my whole point was we need more and denser housing. Build fucking housing.

[Zetanio]

i think sometimes there are folks who confuse housing with just single family houses.

[synistar]

I am for multi family housing developments

But fuck HOAs.

[Zetanio]

those opinions coexist

[Meresgi]

But part of the solution is to transition away from first time home buying. Like we need a fundamental shift away from the model where the goal is a single family home in the suburbs and to a model where people accept multi family dwellings.

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How are people going to know my worth and they can't see it via my lawn?! YOU EVER THINK OF THAT HUH?! Also I fucking love driving 2hrs through heavy traffic to and from work every day!!! (I mean I WFH but in this hypothetical I'm one of the masses)

[Tyrath]

I hate lawnwork and like living in the city. I'm ready for this

[Byrthnoth]

My wife and I are walkable to a metro stop and both WFH in single family housing. It's me, hi, I am the problem, it's me.

[Jaybar]

Sounds like a pre war suburb which are the only good kind of suburbs.

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[archibaldcrane]

https://twitter.com/PacificLegal/sta...dqqMaIdmg&s=19

Big deal especially in California's wealthy NIMBY suburbs, where "impact fees" sometimes topped 200k/unit.

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[Zetanio]

This seems good

[archibaldcrane]

Stunting on the rest of the world

https://twitter.com/FT/status/178022...WWSiNaQrA&s=19

https://twitter.com/ernietedeschi/st...49-95CQwA&s=19

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[Zetanio]

wait, so did we win?

[archibaldcrane]

Always have been

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[Meresgi]

wait, so did we win?

Can't buy a house so no

[Kaslo]

Just terrible news