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0 pointsrevelation10y ago0 comments

This doesn't seem like a "simple fact", rather insanity that has caused many of the economical problems we have seen recently.

I don't buy a house expecting to use it 10+ years and still make a buck selling it afterwards. The same way I don't buy a car and expect it to yield me money when it's a broken beater, in fact, the simple fact of buying it immediately devalues it (to others).

(I guess this is because (1) the market and tax situation in the US are broken and (2) it causes the land to be vastly more valuable than whatever is standing on top of it)

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supster10y ago

The larger point was that incentives flip as soon as you become a homeowner. As a renter, you are hoping for housing prices to go down and would like to see this happen via increased housing supply, deregulation, or even a local economic downturn as someone suggested above. But as soon as you become a homeowner, you want housing prices to level or increase because a large portion of your net worth is tied to it. So you suddenly want new housing supply to shrink, increased developmental regulations, and a booming economy in your area.

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