• Rocket@lemmy.ca
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    1 year ago

    Having nothing more than property taxes to worry about had a big impact on our ability to retire with “normal” jobs.

    But you have/had a job, which suggests that the house was really purchased as a capital asset in which to use to profit. That you can still derive benefit from it later in life is just a nice side benefit. I suspect you’re not moving to a location where there is no job market to free up the productive asset for younger people when you retire?

    This is different from those who acquire housing for rentals or “flipping”.

    How so? Rentals offer the same capital asset to workers who are not looking to own. There are a lot of good reasons why someone might want to rent the capital over owning, even if only for short periods of time. “Flippers” keep liquidity in the market to ensure that the asset class is always available for purchase when one is ready to become an owner. It’s all rooted in a worker’s desire to use housing as capital to turn a profit. It’s all the same investment at the end of the day.

    • jadero@lemmy.ca
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      1 year ago

      But you have/had a job, which suggests that the house was really purchased as a capital asset in which to use to profit.

      Umm, no. Shelter is a requirement, whether employed or not. Given that I have never changed where I live in order to take a job, my choices regarding shelter have always been independent of my choice of income generating activity. Just the opposite, in fact, given that I’ve had to change my shelter based on loss of income, but have never had to change my shelter when income increased.

      That you can still derive benefit from it later in life is just a nice side benefit.

      No that is just one of the actual reasons for making the housing choices I’ve made. I have never had a house so that I could work, but have always had to work in order to stay sheltered.

      Another reason for my housing choices is related to hobbies. It’s hard to do hobby manufacturing or host band rehearsals in a condo.

      I suspect you’re not moving to a location where there is no job market to free up the productive asset for younger people when you retire?

      Why would that be necessary or desirable either individually or societally? I didn’t choose my home for it’s proximity to work. I didn’t move when I changed jobs or when my employer moved to a different location. I developed my garden and built a shop for recreation and don’t see how anyone will be served by pulling up stakes and moving somewhere else, especially given that my choice of housing had nothing to do with proximity to employment, but proximity to outdoor recreational activities.

      Rentals would sort of work. One important thing I learned during the period of time we rented was that it left too many important decisions in the hands of people whose interests did not align with ours.

      • Rocket@lemmy.ca
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        1 year ago

        Shelter is a requirement, whether employed or not.

        Shelter may be, but shelter and housing are not synonymous.

        Given that I have never changed where I live in order to take a job,

        So if we moved you to Wager Bay, Nunavut, nothing about your profitability prospects would change?

        Another reason for my housing choices is related to hobbies. It’s hard to do hobby manufacturing or host band rehearsals in a condo.

        Hobbies are the product of having turned a profit. If the home cannot provide you profit, hobbies are out of the question.

        Why would that be necessary or desirable either individually or societally?

        If you are not making productive use of an asset, you see no value in passing it along to someone who can?

        • jadero@lemmy.ca
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          1 year ago

          Most of your counterarguments have merit, but I take some exception to your apparent concept of productive use of an asset.

          I have put substantial thought, years of planning, labour, and, yes, the profit obtained from my employment into the creation of this asset specifically to enable my chosen way of living and passing time. To say that this is not a productive use of an asset borders on insulting and has no more merit than the claim that a tree has no value until it’s been converted to lumber.