this post was submitted on 24 Aug 2023
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Real estate should be considered an investment. It's one of the few things people invest in that is actually valuable. It's the speculative and labrynthine financial markets that are the problem in that regard.
The only reason mega-renters like Blackrock and Vanguard are able to monolithically buy property in the first place is because of dubious speculative earnings and government bailouts.
It's not surprising that home ownership was actually a lot higher 60 years ago.
But why should it be anything but a personal investment? I'm not seeing your point there. Isn't it better for everyone to decommodify housing?
What do mean? I don't see how what I said negates that.
Not really no. Commodfication is why things used to be cheap. High [insert item here] prices are directly related to money printing, corporate welfare and regulations that are designed to raise the barrier of entry for normal people.
Commodifying things makes them cheap? As opposed to decommodifying? That makes no sense
What is an example of decommodifying?
Nationalized healthcare
Making something unsuitable for investment so we preserve its primary function (houses being a home to a family and not an airbnb or an empty rental).