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Is this satire?
This isn’t small timers, it’s corporations buying up all of the housing, building only “luxury” apartments and price fixing the fuck out of the rent.
Then they spout “Trickle Down Housing” where the “luxury” apartments will be available in 30 years.
The guy said “these houses, …each” so he could own the whole area and jack up the rents, not be a small timer. But yeah, it’s not the person renting out Grandma’s old place to help pay for her nursing home.
If they built luxury apartments, rich people would stop renting regular apartments, and the prices would go down
Rich people like cheap apartments too, lol.
I can walk into a bank today with a mortgage cheaper than rent, and I’ll be denied cause I don’t make enough money, explain that logic to me.
Not sure if you’re in America but credit scores are some rigged ass bs. What do you mean paying off a loan made my score lower?? I have more disposable income!
You’re no longer proving continously that you can keep paying reliably (yes it’s dumbass logic)
Landlords don’t care if your rent is sustainable for you in the long term. They have nothing to lose if at one point you can’t afford it anymore, someone else will.
Banks on the other hand care very much if you’ll be able to pay your loan in full. Even with the house as collateral, it’s much better for them if you just paid your loan instead of them having to deal with all that.
“they get the house if you don’t pay” really isn’t so great after you’ve look at what they actually get for those houses.
Generally, people don’t get foreclosed on when their house looks super fancy and well maintained.
They only get to force the sale of the house to recoup their loan, you get to keep the extra from the sale. House sells for $300k, you owed $250k you walk away with $50k and the bank gets their money back.
Also debt is an asset for banks. Having people in debt for 30 years is better than having people in debt for 10 years and then selling their house.
Have you tried lately? Just curious.
If something were to happen, and you couldn’t make rent, you might get evicted, which would be inconvenient.
If something were to happen, and you couldn’t make the mortgage, the bank might lose money, which is unconscionable.
Yeah this one or the bicycle meme
A) This is a hoax account
B) You can still get cheaper housing if you don’t live in the whitest, red-lined-ass, suburban enclaves in your state
C) Even then, it doesn’t matter, because landlords primarily benefit from very low borrowing costs rather than low housing costs. A $300k house was still functionally unaffordable to anyone earning $45k/year, unless your credit score got you one of those sweet sub-3% ZIRP era loans. Renting was effectively paying a vig to a guy with a better interest rate than you.
D) ZIRP also flooded the market with the excess cash that made $300k basic bitch housing possible. And then turned those $300k homes into $600k homes 15 years later.
E) Build Public Housing
F) And municipal mass transit, so you don’t have to sit in traffic for a hour every day
This is a hoax account
I hope so. The dissonance and lack of self-awareness in the post was so profound, my head is still ringing.
I saw quite a few Chase Passive Income posts and all of them feel like satire
This is the, “If I don’t do it, someone else will,” argument. Which is true.
There is always all least one other ass hole out there.
Exactly why no social ism works. Capitalism, communism, Georgism, liberalism, Marxism, anarchism, socialism. They’re mostly all good on paper but awful when put into effect because they don’t factor human nature. So long as there is the same trait within that led to our wild success as species number 1, we can never have good ideas play out how they were thought to. Instead we have we have those always looking for advantage to be number 1 of the number 1s. Psychopaths love power and personal security.
Communism tends to work pretty well until the US shows up with their military, and stamp it out.
what is “the same trait within that led to our wild success as species number 1”?
i’m think the thing that made the difference was helping the “less fit” so that they could keep and transfer knowledge, do thinking and make tools
And also killing off the less fit if they’re not our own. Especially if resources are at stake. Or general conquest or control over a valley, zone, region, or some other thing for your kin, clan, group, community, eventually country, etc. The same behaviours we still exercise now, whether for political tribe, sport tribe, oil, subculture, parts of Gaza, religion, property portfolio, etc. You see now the etc. is just a long-standing timeline cut short.
Basically if it’s backed by a flag, colours, or other such meaningless symbolism of a group, it’s the underlying human nature still going hard. It is the “this is good for me therefore it is good to commit to” behaviour and the strongest come out on top whether decidedly good or evil.
But we do tend to band together when there’s an immediate threat bigger than ourselves—not like climate change since that’s us and is a slow threat easy to ignore day to day. I think it’s more a self-preservation thing than an everyone else preservation thing though. People jump ship for a better ship all the time, but they’ll fight for the fleet so long as they’re part of it.
And in between that the naive have exoected social ideologies can have any chance of achieving the blueprint of Eutopia they all envisioned. Yet history has only ever constantly said “Nope”.
Arthur C. Clarke said something along the lines of “communism could’ve worked if only they had microchips” meaning that communism had problems with humans. An algorithmic socialism that requires everything to be fair is the only way to do it.
Wouldn’t surprise me if that is how future civilizations (assuming we live that long) handle their administration. Laws are written algorithmically, almost like computer code, and simply translated for laymen to interpret. Maybe with an integrated parser service available to everyone that is capable of answering queries based on the strict programmed definitions it references.
This still invites the very likely possibility of one’s interpretation of a law differing from the intent, but that is already the case today, with the bigger problem being that there are often major disagreements at an institutional level where there should ideally be no uncertainty.
the problem will be the implicit biases of the lawmakers
Who designs the algorithm?
Someone with a provable, undeniable, zero stakes in the outcome of publishing said algorithm, while being of such moral fortitude as to be un-corruptable. IMO, if you find such a person, you’re probably better off just putting them in charge.
Best bet is to raise the bar on any coordinated attempt to sabotage things. Multiple algorithms must be made by distinct parties, and the submissions compared against one another, and somehow averaged out (e.g. multiple running algorithms that vote amongst themselves) so that the only way to game the system is a very large and unlikely conspiracy.
Presumably anyone can, and people democratically vote on which algorithm is used. Direct democracy like this has its problems, but it’s a hell of a lot better than the oligarchy/plutocracy that we’re currently dealing with.
Elon Musk vibe coding with grok.
Extraterrestrial aliens.
Perfect
I will
I’ll only skim a little off the top, promise
Just fractions of a socialism on every socialism. It adds up. I saw it in a movie.
We need to get Man in the Mirror back on radio stations
The problem tellimg the country to… remove him? Thats a first
Parody account
?
Chase Passive Income is a satirical Twitter account poking fun at finance influencers
It’s just satire
YOU WON’T BELIEVE WHAT HAPPENED NEXT!!!
Nothing?
So far. Very frustrating. It feels like a dam of sand filling up until catastrophe strikes and all the energy is released at once.
im just waiting on 3d printed houses to become cheaper (than it already is now) and mainstream.
Those can be an alternative, but aren’t great for longevity. They’re almost always essentially entirely concrete, which means if you want to get to, say, a pipe in the wall, be ready to smash through rock and then have to fill in a vertical hole in the wall with concrete again. This weakens structural integrity over time any time you’ve gotta do repairs, and makes them more expensive to do.
The more sane alternative for most people will be prefab housing, where either the entire house is sent in as either a single prefab unit, or a unit for each room that’s simply connected and stacked, or where just each wall is a pre-made unit that’s then assembled. The latter has become much more common in construction already, and the former is growing market share rapidly right now, to the point you can, right now, literally order a prefab house from Amazon.
You mean manufactured or mobile homes? They’re built like shit by companies that mostly just take advantage of people knowing it’s all they can afford. It’s pretty much impossible to return the house once it’s delivered, and getting HUD to enforce standards takes years of constant work.
Technically, but specifically I’m talking about the ones we’re seeing a pretty big expansion in the market for right now, which are built of the same materials as a regular house, with all the same wood, insulation, etc, just in a format that makes them more modular and easy to build and deploy.
It does technically fall under the same umbrella category of those other homes, but it’s becoming more common now since it’s a good middle ground between a shitty mobile home and an overly expensive full-size house, and it’s made of higher-quality materials. It’s more about deployment than it is about cost, it’s just that they tend to be much smaller, and quicker to deploy, thus saving on cost in the process.
As someone who lives in a prefab, I really have to disagree with them being the answer. Unless they stop using vinyl-on-gypsum and the cheapest materials possible…
Water damage is a major issue in these kinds of homes. They’re not made with actual wood or conventional building materials, and fall apart so easily. Replacement parts are not standard, making it extra costly and difficult to repair.
Adding, when I walk into an actual house, I can feel the difference as I walk through.
They’re not made with actual wood or conventional building materials, and fall apart so easily.
I’ve seen tons of prefabs being made now out of solid wood, just like a normal house. It’s just that they segment the usual house design into one that can be modularly attached/expanded, and position beams such that they can be directly attached to one another at the ends with little effort. If your prefab isn’t made of actual wood, then that’s not a good prefab, nor is it the kind of prefabs I’m talking about here. I agree those shouldn’t be the norm, of course.
while theyre typically worse for repair if you need an immediate one, theyre significantly better when it comes to insulation, thus leading to lower hvac costs, in particularly cold or hot regions.
the 3d printing process itself also doesnt dictate that the entire build has to be concrete. its just there to minimize the cost of production in the spots that needs it.
Oh I totally understand, it’s just that it’s relatively hard to work with multiple materials in the way these houses are printed, so you commonly only see them made of concrete, without much else in the way of materials, and the way they’re designing the manufacturing processes seems to be more focused on all-concrete production since that’s what’s cheapest.
Man Ive seen those videos online… just amazing.
Can’t wait.
Who rents that for 72’000 $ per year? At that point you are throwing away your money and most definitely have enough to actually buy a home.
have you seen how this works? i know this is a parody post but it’s real. Rent starts “ok” then the “market” (which is just this guy with 6 props) says rent can be higher. So it bumps. Then inflation. Then covid. Then “market” again.
While the owner know how his tenants salary is tracking, keeping sure to raise the rent by enough to keep him there but not so much he bails.
it’s not the renters fault they need a place, even if one says “yeah but they overspent.” Not initially, no. Maybe some. Tough nuts. But often it’s not initially overspending.
Then again capitalism itself relies on and markets for people thinking they “need” more than they do; the owner of the props is counting on it.
Landlords are scum and deserve nothing.
Who rents that for 72’000 $ per year?
Andrew Cuomo bragged about renting for $96k/year
At that point you are throwing away your money and most definitely have enough to actually buy a home.
You don’t need a 20% down payment to rent a home. That’s the big hurdle, as housing prices have ballooned
Trying to save up 20% was the biggest mistake of my home buying experience.
My whole fucking life my parents insisted that you had to have 20% down, so that’s what I aimed for. Both my siblings just YOLOed and bought houses between 5-10% down, but I had a better paying job, so continued to save. As I saved, the cost of housing out grew my rate of savings.
When I finally did get a mortgage I only put 15% down and it was at that point I realized that the only thing the 20% down would do for me was save me something like .75% for the first 5-8 years. That is still a lot of money, but compared to just buying a house at $175,000 10 years ago and selling it for double when I ended up moving anyway–it’s nothing.
The whole system is fucked. There’s no reason only those making 6 figures or more should be the only ones with the privilege of trying to own the place you live someday. There’s no reason a company should own a place to live. There’s no reason minimum wage shouldn’t cover a reasonable lifestyle for a family. There’s no reason housing in general shouldn’t be available to everyone.
I had to put 30% down for a condo. It just depends on the bank and what you’re buying
Pre covid, I was pre approved for a home. I had lied and told them I had $3K for a down payment.
I couldn’t save three grand. Rent was 40% my income, as was childcare. I made $20/hr in a “grown up” job, the type of work my uncles and aunts and parents bought houses with.
The gorgeous $167K dollar house (2016) who’s only down side was it was 45mins from work, … is now worth nearly $600K. I’m jealous of whoever ended up buying it that year.
Would have been nice to own, but a bitch to pay property tax on.
That’s the dagger in the back for gentrification. You live in an affordable area. Then someone builds a mega-plex next door and the municipal tax authority says your bungalow is the same value as a McMansion in the 'burbs.
Nobody will actually buy your house from you for $600k. They’ll buy it for maybe $250k if you’re lucky. Or they’ll wait… knowing the 3x tax price will put you into foreclosure with the next market downturn.
You don’t need to put 20% down to buy a home, either.
Homebuyers can get a conventional mortgage for 5% down (technically as low as 3% down, but that would limit their options for lenders and require a much better credit score) or an FHA loan for as low as 3.5% down.
There are USDA loans that require 0% down, though they have income maximums and for homes in rural areas. I read that they also have square footage maximums (1800 square feet?), but the USDA property requirements doc I read didn’t list them.
For veterans, VA loans can also be 0% down.
Homebuyers can get a conventional mortgage for 5% down (technically as low as 3% down, but that would limit their options for lenders and require a much better credit score) or an FHA loan for as low as 3.5% down.
Only if they are eligible for that line of credit. Since the collapse of the Subprime Mortgage market in '08, it has been significantly more difficult for younger and lower income people to access these more expensive lines of credit.
There are USDA loans that require 0% down, though they have income maximums and for homes in rural areas.
Sure. But, again, a very limited resource with very particular regulatory restraints that won’t help a middle income family in most neighborhoods where people actually live.
For veterans, VA loans can also be 0% down.
Great news for all the serial killers down at Fort Bragg
