Corporations and foreign countries are buying up real estate like crazy and OP wants to blame retired people? STFU.
this post was submitted on 17 Jan 2024
368 points (81.6% liked)
News
23266 readers
4787 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
No it's not. Hedge funds and banks and corporations are buying the starter homes. The homes boomers are in are not the starter homes.
This entire line of thinking is a red herring to distract from hedge funds destroying our housing economy.
My 90 year old grandmother refuses to go to a nursing home (and honestly I can’t blame her) and actually just blew a ton of money getting her home remodeled. She has no plans to leave until she passes away, at which point the house will go to my father who has plans to sell it.
Meanwhile, my wife and I barely make the median income amount and, at 36, we’re never going to be able to afford a home.
And your dad will spend that money like it will never end, leaving you with nothing.
Mhm. He and my mother plan on moving to Alaska with my uncle.
Amazing. They got their shot and are still hoarding it. So sad.
If my parents invested a FRACTION of the money they have just thrown out into the world in their children, our lives would be so much better. They really have always just done whatever made them happy, hey, we're adults, right, they aren't responsible for us anymore or something.
Yeah, old people! Get out of your houses! Die in the street for everyone else's benefit!
Just like how you were supposed to die to vote for Trump in the Iowa caucus and die from COVID to help the economy.
The point is, this is entirely your fault and we hate you and go die. In a hole preferably, so we don't have to hear you moan about needing social security and medicare.
Sincerely,
Republicans
(P.S. Vote for us before you die! Kthx.)
load more comments
(1 replies)
I bought my first house in 2010, during the last dip in the housing market. Sold every asset I could for the down payment and end up with a mortgage payment I could afford. The value of the home has since increased 3x from when I bought it; I couldn't afford to buy the place today, let alone move someplace else. My major source of frustration has been property taxes, which now cost 1.5x more than my mortgage payment. I'm not entirely certain I'll be able to STAY in this place if they keep going up 20%/year like they have been.
load more comments
(1 replies)
I feel like most of the thumbnails I see for news articles are AI generated now.
load more comments
(2 replies)
Baby Boomers, Millenials, amd Gen Z account for.. 42% of homes.
Classic Gen X erasure aside... I have doubt Gen X owns the remaining 58% today. The article does mention 18% of gen X owned 10 years ago. And I am doubtful the Silent Generation is still clinging to their numbers.
And so under the most charitable interpretation: that is still a 20% gap of ownership by what I can only assume is a business enterprise.
load more comments
(1 replies)