> Financialization of homes as a personal investment is a BAD thing. It’s essentially a Ponzi scheme operating over decades where home buyers depend on people wealthier than themselves to buy their home at a higher price decades later. This is clearly unsustainable. Homes need to stop being seen as an investment, but rather a consumption, much like a car or other goods.
What do you mean by 'bad'? Morally bad? Macro-economically negative? A money-losing investment for the investor?
The investment has been a good one for generations. One reason is we have continued to grow wealthier for generations.
Owning your property, with the rights and independence that come with it, is fundamental to personal liberty and security. Your home is your castle; the landlord's home is not. Not everyone has to do it, but you are handing over a lot of power to someone else when you rent.
What do you mean by 'bad'? Morally bad? Macro-economically negative? A money-losing investment for the investor?
The investment has been a good one for generations. One reason is we have continued to grow wealthier for generations.
Owning your property, with the rights and independence that come with it, is fundamental to personal liberty and security. Your home is your castle; the landlord's home is not. Not everyone has to do it, but you are handing over a lot of power to someone else when you rent.