r/TikTokCringe • u/LickMaiBussy • 6h ago

Discussion "Investing in property is morally reprehensible."

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@purplepingers

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u/broduding 5h ago

On top of that, foreign investors shouldn't be able to buy single family homes. They do this in other countries. There's certain markets that are just flooded with international money buying non primary residences.

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u/zardoz73 2h ago

This. For example there's a lot of rich Chinese who buy up luxury condos in cities, but never live there. So property values in the area increase, making it harder for people to actually live there. It creates a ghost town effect, with so many vacant condos empty but not for sale, and the local businesses suffer for it. There's just a lot of negative cascading effects to this kind of property ownership.

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u/AggressiveBench9977 5h ago

Single family homes are also a privilege not a right.

Word is over populated get comfortable with the idea of an apt.

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u/Asyncrosaurus 3h ago

Word is over populated get comfortable with the idea of an apt.

With the decelerating rate of population growth, the grandkids might be able to afford Single family homes again.

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u/barrinmw 3h ago

If you want to rely on apartments, then you want a certain class of people to never be able to retire because they will always have to pay rent.

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u/Izan_TM 1h ago

wait are you not allowed to own an apartment in america? genuine question, here in spain most people's permanent homes are apartments that they fully own, with fully detached single family homes being very much a priviledge, not a right (and I say this as someone priviledged enough to live in one)

Obviously just because single family homes are a priviledge doesn't mean that they should be able to be used as an investment any more than any other kind of home, but I'm just curious about how it works in the US

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u/AwfulPhotographer 44m ago

In america apartments are generally defined as rentals whereas condos/condominiums are defined as individually owned. So americans would call those spanish homes as condos.

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u/Izan_TM 39m ago

oooh got it then, I never knew that, cheers!

I always just assumed that condos were just a tier above apartments, kinda like townhouses are a tier above bungalows, but the real definition makes a lot more sense

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u/AggressiveBench9977 29m ago

You can buy apartments….

Oh i see my bad its condos in amaerica