this post was submitted on 09 Dec 2023
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[Mortgage Is 'Just A Fancy Bullsh*t Word For Paying Rent For 30 Years To The Bank,' Says Real Estate Billionaire Grant Cardone — Here's Why Renting Could Be A Better Financial Move

](https://finance.yahoo.com/news/mortgage-just-fancy-bullsh-t-171148202.html?guccounter=1)

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[–] pelespirit@sh.itjust.works 6 points 1 year ago* (last edited 1 year ago) (1 children)

I think you might be having a math problem.

Corporation Plan

  • Step 1, US has a financial meltdown
  • Step 2, corporations buy up all of the housing at cheap prices, price fix the rentals and use a shit ton of them for airBNBs
  • Step 3, not worry about the empty units or homes because price fixing and airBNBs will fix that
  • Step 4, develop a crowdfunding site so "investors" can get in on the renting/price fixing game
  • Step 5, complain that there isn't enough housing to get the zoning changed, so they can build "luxury" apartments where they continue to price fix or rent out to tourists/business people because they're ToTALLy NoT A hoTEl!
  • Step 6, profit, profit, profit

Common Person Plan

  • Step 1, look to buy a home but there's not enough supply so the prices go up
  • Step 2, try to save but their rent keeps getting raised because it's being price fixed and there is a lack of supply (sometimes real because of the tourists)
  • Step 3, continue to rent while nervously waiting to try and build up a deposit and there's less and less supply
  • Step 4, rent, rent, rent further away from the city core
[–] SCB@lemmy.world -4 points 1 year ago* (last edited 1 year ago) (1 children)

I really don't because the economics here doesn't change. You're just trying to moral high-ground economic concepts, which isn't useful for policy solutions.

It's good for rhetoric tho, and we need to change minds, so it's not a total waste.

[–] pelespirit@sh.itjust.works 3 points 1 year ago (1 children)

You’re just trying to moral high-ground economic concepts, which isn’t useful for policy solutions.

What moral high ground? It's easy to fix, make it so corporations can't own more than a certain amount of units and corporations in general as a percentage of units in a city. If anyone has more than 4 airBNB units, you have to become a hotel. Simple solutions that won't catch every instance but will make a dent.

[–] SCB@lemmy.world -5 points 1 year ago* (last edited 1 year ago)

"corporations bad" is a moral stance. It's irrelevant to the underlying economics

We aren't debating policy. we agree on policy.