B-b-b-b-b-b-b-b-but tHiNk Of AlL tHe LoSt ShArEhOlDeR vAlUe ThO!?
Surprisingly they don’t have that much of the market.
I counted the word “institutional” used almost once per sentence. There were a couple of sentences that didn’t use it, but there was at least one sentence that used it twice. Plus all the figures and captions for them too.
Though despite being not “institutional”, the market seems to have behaved a little as if it were, due to use of software to fix prices at what the landlords believed that the market would bear. So still price gouging, regardless of whether done by individuals or giant mega-corporations.
Though still a good point that the article makes.
Seriously though, if crabs used currency this would never happen. There would be one crab with all the shells and the other crabs would have to bring food offerings or whatever their currency would be in order to get one.
If you found a house that was too expensive and tried camping outside it with your average wage in sharpie on a cardboard sign, nobody else would join in and reveal their earnings so nakedly. Nor would they reveal it in an online sorting list with their current house listed beside it…
Besides, you’d likely object to moving to their previous humble residence in Alberta where the older couple earned the retirement that affords them this house.
In Australia we lose about six months wages to ‘stamp duty’ if we move. Better to stick with the oversized shell.
Not fully as I don’t really understand it.
https://www.revenue.nsw.gov.au/taxes-duties-levies-royalties/transfer-duty
The calculator on that page says I would owe them $17k if I purchase a $500k property.
Iirc there can be a mad scramble. If two try for the same shell, one loses out and their previous shell may be taken. So they’re fucked.
socialist crabs.
