Yodan
Price of da brick going up
If you don’t live off of interest from many millions invested, then you are working class. With enough money, it automates itself forever as long as your interest taken out to pay for your lifestyle is less than the rate at which it increases from its investments. If you make 7% gains but take 5% to live off of, the other 2% gets reinvested and added to the compound interest. 5m+ is 250k per year in interest at 5%.
I would argue that nobody should own a home they don’t actually live in. All renting out does is increase the housing cost overall because nobody would ever operate at a loss or to break even. This is the issue people have with say, Blackrock who buys hundreds of homes at a time and rents them out.
Your family aren’t bad people but the business they decided to take up is inherently bad by design. If the law changed tomorrow saying all multi homes must sell to non homeowners, everyone would watch prices drop and be able to afford it.
Using homes as an investment is at its basics, exploiting a need by interpreting it as a want or practical goods. Homes are for living in. The housing industry views homes like commodities as if people have a wide choice and selection when it’s really “Omg we can afford this one that popped up randomly, we have 12 hours to decide if we want to pay 50k more to beat others away” and then lose anyway after bidding to Blackrock who pays 100k over asking.
It’s always so weird because it’s not like you can go to your primary doctor and say “I want X drug” right? Like, if there was a reason to give you a drug for something the doctor would have prescribed it. Also not ask you how you felt about them, just that here is X drug for your Y problem. If that doesn’t work we try Z.
Or do people actually swap doctors over and over for months until they get one who says “ok dude”?
My MIL laughed because I’ve been buying n95 masks again and tuna/rice/beans for my crawlspace. I’m hoping I just have extra food and paper goods I won’t need but my gut tells me RFK is about to willingly introduce bird flu into our raw milk diets or whatever and trump is going to make everything else go through the roof.