This article is a joke. Basically saying “hey be happy you don’t own a home if you want one”. Piss off.
I think it does describe some real problems. But the implied solution of forcing more people into the serfdom-like rental market is far worse than the problems they outline.
These problems become small when housing is affordable, so that seems the best policy to pursue. When everyone can easily afford a home, the decision of when to rent or buy can depend on personal preference and circumstance without the distortions created by housing as an investment vehicle.
The argument is mostly valid. But the real point is that capital gains tax needs to change. That would solve the stated problem, without reducing home ownership.
As a result, a majority of the population is literally invested in seeing the value of homes always go up.
This is actually not true. In general, ome owners do not benefit from global house price increases.
Yeah they do. Home equity is a powerful tool.
How do you mean “a powerful tool”? Tool for what?
Collateral, mainly
Oh like a security for further borrowing? Could be.
