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Originally Posted by Hondaracer
I feel like “normal” people never saw or anticipated housing being commodified as it has been
I have a few friends who have very wealthy older (80+) family members or step parents etc. and those people seemingly did see the potential as many owned many properties or always leveraged up to the most expensive house they could possibly afford at the time and that’s still the advice they give today
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Real estate has always been commodified. Almost every wealthy individual has stemmed from real estate. Some have continued that path and some moved on. Real estate has always been an investment vehicle, buy a house, pay off mortgage and that turns into your retirement fund. What's abnormal as we all see, is flipping houses without lifting a finger. Flipping has always been buy a dump, reno it and sell it a year or so later. That's real flipping. Not how we see it here. But you're correct, "normal" people will never see that picture and hence will live a "normal" life. As life goes on, "normal" will get left behind
Quote:
Originally Posted by westopher
And those are the people that the government should have bent over a table 30-40 years ago and we wouldn't be in this fuckin mess.
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You're also correct in a sense that the government should've stepped in, with all this BS laws they just implemented, ie Foreign Buyer Ban/Anti-flipping law, they're about 10 years too late. However, say as we may, this country has always relied on immigration and foreign money and will continue to do so.