Professor Kyle
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Truth. Real estate speculation is a huge part of what drives prices up. In my region (and probably many other places) people from away buy up properties as second homes/short term rentals with the idea that it's an investment. This makes home prices unaffordable for many who live & work here.
Anthony Lee @AnthonyLee
A house is a structure for shelter, not a reliable means to make money. People should buy a house to live in it, not to resell it in hopes of making a profit. If anything, this practice may be limiting options for shelter to those who truly need it. Housing prices cannot go up forever, folks.
09:09 PM - Mar 23, 2024
09:14 PM - Mar 23, 2024
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Kate ChinaKatWrites
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There’s a difference between being a predatory speculator and being a small land-holder. There is imho, a place for small holdings to retain wealth and generate income for the property owner. Owning is a lot of work. Renting has its place and can be done well for both sides.
In response to Professor Kyle.
09:24 PM - Mar 23, 2024
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Professor Kyle
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In response to Kate ChinaKatWrites.
That's true, but the people I'm talking about are mostly not big time speculators, yet collectively still drive up prices for the local residents. I know I couldn't afford a house here if not for lucking out after the housing bust in 2009 and finding our place foreclosed for $29K.
09:28 PM - Mar 23, 2024
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Kate ChinaKatWrites
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In response to Professor Kyle.
Where I’m going with it though is that ordinary people such as myself may invest in real estate, rather than stocks. I wouldn’t have made it as a single mom if I didn’t own a two family. I didn’t charge exorbitant rent. But it reduced my overall mortgage to what I could afford. Most of the time.
07:09 PM - Mar 26, 2024
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