Feels bad man

  • xantoxis@lemmy.world
    link
    fedilink
    arrow-up
    14
    ·
    edit-2
    6 months ago

    Gen X here. I also just bought a house a year ago. I support the elimination of housing-as-investment. It has always been a smoke and mirrors trick anyway.

    You buy a house to live in. You put money into that house. Eventually, 30 years later, I won’t have to pay a mortgage any more but by that time I’ll be a very old man. In the meantime the value of the house has gone up. Hooray? Not really: I can’t get that money back out and live on it. To live on it, I’d have to sell the house. Then I’d need somewhere else to live. Oh, I suppose I could buy a house? Except the value of every other property has gone up just like mine. It’s break-even. It’s not an investment for anyone except developers and massive real estate corps.

    • radiohead37@lemmy.world
      link
      fedilink
      arrow-up
      8
      ·
      6 months ago

      I never understood why people care so much about their property values. I personally think it makes me worse off when my house goes up in value. Now I have to pay more in property taxes and I can’t move because all other houses are way more expensive too.