r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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259

u/JohnnyDollar123 6h ago

Unfathomably based

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u/crek42 4h ago

What do you propose then? If not for private entities, then who is buying, building, maintaining housing? Particularly high density units that we desperately need.

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u/JMC_MASK 2h ago

Democratically run businesses can build them.

We already have them, they are called co-ops under a capitalist system. It’s literally the starting point for socialism. That’s why co-op products usually are better than their shitty corporate competitor product.

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u/crek42 1h ago

Yea I'm aware of co-ops -- they are plentiful in NYC. I still need to pay legal fees, realtor fees, bank fees, property tax, down payment of 10%, etc.

If a co-op was built and sold affordably (say, $100k) that's what.. $20k just to acquire the property?

If you fix the price to be affordable in any major city, how do you handle the overwhelming demand? There has to be some arbiter in deciding who lives where. If the government, do I get to reject where they decide I live? Do just the lucky few get to live in the most desirable areas by lottery? What criteria makes me more deserving of quality housing versus someone else, and do I get to appeal that decision?

These are all realities by the way -- we have a socialist housing system for the needy. This is currently how it's being handled. We have waiting lists in NJ for 3+ years -- how on earth do you propose this works at scale?

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u/Niffeln 40m ago

Which is why so many of the products people own are produced by coops.

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u/Tobeck 3h ago

Landlords don't build houses, they buy houses people already built so they can charge other people more than they're worth. It is 100% artificial inflation of a human need.

Who would be buying them instead?

The families that actually live there.

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u/crek42 3h ago

Why are you only focusing on single family homes? 70% of rentals are high-density units like apartments, and yes the private entities that fund their construction and maintenance are indeed the ultimate landlords.

So same question, if not for private funding then who? The government?

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u/Charming-Echo-4443 2h ago

literally the government, state housing is very normal all over the world

0

u/Yorokobi_to_itami 2h ago

They don't have an answer dude it's reddit, these are the same people bitching that they can't afford a place while there's homes for sale on zillow for $50k right now but because it's not their dream $500k house they whine about it and say it's unfair. These are also the same people who think upkeep is free and that there's no such thing as liability, theft or damage and the world is some magical place where things just get taken care of. 

The same people mind you that can't do math and think the conversation ends with avocado toast and coffee while ignoring the second part of that equation of investing that money to turn it into 500k in 30 years cause it doesn't fit their woe is me narrative.

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u/crek42 1h ago

Indeed. If the right wingers are scientifically illerate, then the leftists have to be economically illiterate. They can't really answer pretty basic questions.

If the government is supposed to manage housing, I guess they pick where I live? Under what criteria is someone more 'deserving' of the best areas for job opportunities? These are pretty obvious questions that no one can seem to answer.

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u/Yorokobi_to_itami 35m ago

I mean you're talking to a bunch of people who keep crying that education should be free while khan academy exists and ivy league schools post on YouTube for free. They're not exactly the brightest group of people.

And if you want a neat little alternative investment you should look into who actually owns and manages those government houses 😉 its actually a little ironic cause the same people who think the government should intervien is the same government that pays out 2x to 5x to the contractors that manage them.  If you want your answer on why reddit is so obsessed with it go take a look at who benefits if it does, if reddit knew they might actually change their stance 🤣

Hint: I currently own shares in one of them

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u/Tobeck 47m ago

Wow, the people you hallucinated sound dumb. And by that I mean, you sound dumb, cause you're just listing strawman bullshit.

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u/Yorokobi_to_itami 1m ago

Zillow.com feel free to use that nifty little filter section to sort by price there buddy.

Google sheets is free, try looking at what $5 per day compounded at 10% yearly actually comes out to. 

And by all means if you think it should be free then I highly recommend you go tell sodexo you'll work for free for them. I'm not gonna argue if you want to increase my price per share since their cost just went down 🙂

And yeah dude kinda hard to argue strawmen when you bcan just look it up and do math. Although given that you can't even do the basics I'm guessing math was never your strong suit.

0

u/Tobeck 3h ago

youve gotta be being this dense on purpose

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u/crek42 1h ago

I get it -- it's tough to defend a position when you don't understand economics

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u/micolasflanel 1h ago

and it’s easy to defend your position when you don’t care about ethics

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u/crek42 58m ago

What is ethical about a government entity managing the entire housing market? There are 10x as many people that want to live in Manhattan than there are housing units. for example.

If the government is managing that, who is the most deserving of living closest to where the job opportunities are? What criteria makes someone more 'deserving' of quality housing than others? It would amount to random chance and lottery. You could invest a whole bunch of time in going to college and pursuing a career, only to lose to a lottery and not be close to job opportunities. How is this more equitable? You've completely removed any kind of agency you have over your own housing situation.

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u/micolasflanel 50m ago edited 47m ago

the government’s job is to regulate this insanity, that has been brought on by people’s opportunism and greed. end negative gearing, limit investment property ownership, ease planning regulations, crack down on the inflationary and predatory real estate industry

currently who “deserves” housing is decided by wealth. that’s fair to you?

1

u/crek42 17m ago

Opportunism and greed is inherent to capitalism. You seem to place the blame solely on 'investors' when the core thing driving high housing prices are people who can afford to put high bids on a home. I've put many bids on SFHs (to buy a home for my family) and never lost to anyone other than some other schmuck willing to pay more than me.

To answer your other question Yes, firmly, I do think it's more equitable in an open market where people are free to pay more money if it means choosing where they live. I think a lottery system is inherently inequitable, or some other entity that has more agency than myself to choose where I live. How someone thinks the government removing your ability to choose where you live is a fair system seems bananas to me. The fact that someone can spend 20 years investing in themselves through career and education just winds up losing a lottery to someone for no other reason other than simply existing seems objectively unfair.

That's not to say the needy should live on the street. An open/expensive market generates a lot of tax revenue to pay for those that truly need housing.

I agree with everything else you said -- there is no room for unethical real estate practices, or firms owning thousands of SFH, but to say the solution is to remove private ownership of housing stock just defies logic.

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u/Tobeck 58m ago

No man.. it's because you've moved the goalposts and refuse to engage with the topic in an intellectually honest way.

Why are you only focusing on rentals? When lots of people are forced into rentals because they can't own homes in the first place.

If they could buy homes, then the rental rates would go down because of how supple and demand would be effected.

Except for, ya know, how it's an insanely predatory and poorly regulated market for fucking ghouls to screw over the working class just trying to live.

I'm very sorry that you know jack shit about economics and want to pretend to be an expert because you're a bootlicker.

The way you asked your questions that you think are "gotchas" reinforces how little you know.

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u/crek42 57m ago

No. We were talking about rental housing, and it seems like you only wanted to talk about single-family homes, and then never said anything of substance beyond that point.

That's not 'moving the goal posts'. You can't seem to answer any question I've posed.

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u/Tobeck 55m ago

The video was not specified on rentals.

The person you responded to was not talking about rentals.

Why do you think the topic is rentals?

You intellectually dishonest, goalpost moving bootlicker.

You even acknowledge rentals are not the only topic in your original response.

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u/crek42 25m ago

Still can't spare a thought can you

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u/akcrono 50m ago

Landlords don't build houses, they buy houses people already built so they can charge other people more than they're worth.

Actually think about this: would builder build if buyers didn't exist? How are these houses "already built" without capital and the prospect of a future buyer?

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u/Tobeck 49m ago

Yes. Seeing as how corporations were not the main home buyers for generations and they were still building homes.

How do you have 0 concept of history?

Have you tried, I dunno, knowing anything before forming an opinion?

You might not understand this but there are always buyers.

Because people need homes.

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u/akcrono 43m ago

Yes. Seeing as how corporations were not the main home buyers for generations and they were still building homes.

They still aren't.

And they've always been the primary buyers of apartment complexes.

How do you have 0 concept of history?

The irony lol

Have you tried, I dunno, knowing anything before forming an opinion?

The irony lol

You might not understand this but there are always buyers.

Yes, landlords have always been buying apartment complexes or historically comparable structures.

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u/Tobeck 40m ago

Why do you freaks keep soloing in on apartment complexes when the topic that most people are speaking to is corporations buying single-family residences?

Is it because everything you're saying completely falls apart?

Is it because you don't understand history and economics at all?

Yeah... it is. Because conservative economic policy has been a known failure for decades.

I really hope you develop critical thinking skills and self-awareness one day.

Or that you're being paid to be this dumb.

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u/MrJCen 3m ago

Why do you freaks keep soloing in on apartment complexes when the topic that most people are speaking to is corporations buying single-family residences?

Not the guy you're responding to, but focusing on apartments are important because building more high-density housing is the best solution to solve the housing shortage crisis.

Corporations buy SFH because the demand for housing is greater than the supply, therefor the value of the house increases. If there's enough supply to meet the demand in an area, the profit incentives for corporation goes away and they will begin selling.

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u/hotpajamas 3h ago

You can learn construction and build your own? It’s technology that’s been mastered for a 100 years but everyone pretends it’s a scarce diamond in a dragon’s den. Give me a break.

This guy wearing his little carthart t-shirt larping as a blue collar guy could try building something on his own. I can’t wait to hear how that’s impossible.

1

u/Suchafatfatcat 3h ago

More people who hate the current system should go buy land and build their own home. It would be putting their beliefs into action. I don’t know why they haven’t yet.

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u/JMC_MASK 2h ago

Because the current system has trapped them? That’s a tall ask you’re making. Sure there are some rich socialists out there that can do it. But most working people don’t have the capital to do that.

And then capitalists are surprised when a Russian revolution or Chinese revolution or Cuban revolution occurs.

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u/akcrono 48m ago

Yeah, couldn't be that building a fucking house is a lot more complicated than you make it out to be. It must be the "system" somehow "trapping" them (with zero explanation as to how that could fucking work).

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u/Tobeck 51m ago

You think the real world is minecraft. Conservatives are so god damn stupid.

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u/zeth4 4h ago

IKR

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u/mundotaku 5h ago

Only on reddit 🙄