this post was submitted on 22 Sep 2023
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There are a lot of leftists here. The focus is usually on exploitation, not on wealth (though, these are often correlated). A shitty small farmer may not be very wealthy, but him making a meager living off the labor of underpaid migrant workers and having them live in unsafe shacks is still exploitation.
Why should real estate have any ROI? Why should people be able to own and make money off property that they don't use, but other people literally need to survive?
I, personally, don't hate single-property landlords or whatever, I just hate the system. I do kinda hate larger companies because they are just machines to generate more wealth for the already wealthy, with no regard for anything or anybody else.
Because it's an asset like any other and prices reflect the same fundamentals that drive everything else in the world. And when I mention 10%/yr ROI I'm citing the average annual return on equity, not even RE specifically. But since RE has a strong positive correlation with stocks and commodities there's no wonder prices have increased exponentially along with everything else.