this post was submitted on 04 Sep 2023
1354 points (87.1% liked)
Memes
45648 readers
1486 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
That pretty low utility when property value has gone vastly up for decades. Id also question what "quick transfer" is, and whether it provides any use at all. Houses buy/sell in days now, as all the transactions have been streamlined between even novice sellers/buyers.
Changing exorbitant profit to poorer people on top of raking in exorbitant profit for taking near zero risk isn't a laudable role in society.
As climate change spins out of control, all land that is still functionally livable will skyrocket in value.
Which is also why, shocker, the mega rich are buying up massive amounts of land in areas least likely to experience the worst of climate change, like Michigan's Upper Peninsula, which has seen lots of influx of the rich buying property for "future-proofing" their life-plans.
Yeah, it's not much utility, but they can charge huge amounts for it because of how much demand there is for little supply. And the supply is kept low by horrible zoning and stigma against poor people and high density housing.