Comment by relaxing
16 hours ago
I’d be pretty upset if the value of my home was harmed because someone decided to make it common knowledge that the town I lived in was crap.
16 hours ago
I’d be pretty upset if the value of my home was harmed because someone decided to make it common knowledge that the town I lived in was crap.
> pretty upset if the value of my home was harmed because someone decided to make it common knowledge that the town I lived in was crap
I could argue this for the journalism disclosing Flint’s lead problems. The root cause isn’t the commentary. It’s the reality. Balancing one’s property value is the fraud conveyed on a prospective buyer.
That is a very British take. Constant worry about the value of something you don't want to sell. Thinking about your home as a financial investment, rather than a...home.
Unfortunately it's become embedded in the system with the houses themselves becoming vastly over inflated.
A Ponzi scheme.
> Thinking about your home as a financial investment, rather than a...home.
Sadly, the way all Western economies have devolved over the last decades, real estate equity is the only form of wealth that at least some part of the 99% has for retirement.
Broad market index funds have performed spectacularly over the last few decades, and far more than 1% have them (or could have had them) for retirement. It has been the standard recommendation since I graduated college in the early 2000s.
Of course, many people prefer to invest in extra big and luxurious houses/cars/vacations/restaurants/alcohol/coffee/etc out and I would even throw in educations with low ROI, rather than broad market index funds.
This is specifically about those who had been earning money in the ~1980 to ~2010 period, for the vast majority, their house should not have been the only equity.
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Presumably, anyone looking to buy your home would visit and quickly ascertain whether or not your town is crap.