this post was submitted on 29 Sep 2023
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I know I'm supposed to want it to keep going up as a wealth generator or whatever.

But like... I wouldn't be able to afford the monthly payments if I bought my house right now and it's scary. Also none of my friends are buying homes, none of them are even renting full places. Just like renting rooms.

So what are your feelings home owners of lemmy?

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[–] [email protected] 13 points 1 year ago (1 children)

Capitalism is a Ponzi scheme. Build up debt, and pay it off by transferring it to the next generation of suckers.

I look forward to the crash, and hope it's not just a reset of the same system.

[–] [email protected] 6 points 1 year ago (1 children)

My mom was complaining about some pyramid scheme get friend fell for and I explained how every business is a pyramid scheme.

You work, you produce way more value than you are paid, that money goes to paying other people and growing the business to make the shareholders rich. You aren't rewarded for your work, generally. Somehow this is normal. The only difference with a real pyramid scheme is that they generally lie about how much you could succeed.

My wife and I are both lucky and we bought our place mortgage free because we were able to save while paying off our old place.

While making the purchase we specifically talked about how if the market crashes by 50%, we're still better off. Because most likely every home will be similarly cheaper. And our earning potential would be similar.

The difference is that it's hard to predict what will happen in an economic contraction like that. There would be a lot of joblessness and a lot of hardship.

[–] [email protected] 4 points 1 year ago (1 children)

I'm hoping we can minimize the joblessness and hardship (which is already happening). People are unionizing, despite the best efforts of the owners of even businesses that had a progressive reputation, and the strikes are getting results! It gives me a lot of hope for fairness without the reset that could lead to mass homelessness and poverty. But having been around the block a few times, I know it will be a close thing.

[–] [email protected] 0 points 1 year ago

I'm a cynic and I find myself pretty perpetually expecting the worse from humanity.

But sometimes we really pull it together and knock it out of the park.

I think it's great to have high hopes, I wish I had the fortitude to stay positive more often.