Great video and covered some good points.
What happens once houses have been paid though? This is then equity held the owners.
Also, the housing bubble mirage usually = last price paid x number houses... if no new buyers, NGD.
GM! #nostr gang
Today we're having a look at how the boomers & bankers fucked us royaly by financializing the basic human need for shelter!
https://m.youtube.com/watch?v=E8Z0Wa6FH9w
#boomers #bankers #ponzi
Got #bitcoin
Discussion
Thx!
Hm yes, and in the beginning people did that, but today at least where I live almost no one will ever be able to pay off their morgage 😅
Yes, but as the need for shelter is so fundamental I think there will always be people willing to take out a loan and thus prices will probably stay high and enslave them 🤔
If you look at the stats, only 1-2% max housing turnover per year, 60-70% of people own their houses/land outright...
Yes but isn't that exactly the thing? Boomers bought houses early when prices were not that crazy yet and they (most of the 60-70%) were able to pay off the initially lower loans
And since loans have increased and driven up prices continually they dont want to sell them & young people can't afford to buy them anyways thus only 1-2% turnover?
Yes, the Boomers own multuple AirBnBs bought with money printed from nothing and drive price up for younger people forcing them to rent. (from them).
being a landlord isnt a real business - its being a middleman. Its a grift imo.
Exactly!
And so I think allowing bankers to lend money for something so important to all of us, that also has such inelastic supply was a GIANT mistake and should be peohibited because it will always end up the way it ended up today