Post by Cool Papa Con on Sept 14, 2024 6:58:57 GMT -6
Is this phrase the next big cattle movement or is this a prophecy of things to come if our politicians don’t get their act together and protect the people from business interests?
You'll own nothing and you'll be happy
Most of you are probably aware of this, since it stems from an essay authored by Ida Auken, who as a member of Demark’s Parliament, and published on the World Economic Forum’s site in 2016. I’ve included a brief reference below…
Here's how life could change in my city by the year 2030
Again, that was published in 2016. At that point, I and many of my friends were already Home Owners for the last couple of years, but I couldn’t help but think of this and how it applies to today.
I’d seen my house value increase overtime, but since the pandemic, it seems to have skyrocketed overnight. Sure, I could sell it for a nice profit, but what market hell would I be entering? Unless you have the cash to buy a house straight up, the interest rates have been pretty ugly (compared to my current 15 yr, 3%) and to buy a house similar to mine would be paying at a perceived artificial high. So, for my family and I, it’s not a wise move.
That said, my housing payments have exploded w/escrow increasing every year to cover escalating insurance & taxes heavily inflated by the soaring market value. Gee thanks, I’m making no money off my artificially inflated home value and are paying more for the same thing.
Thats obviously not the only cost explosion. As regularly documented, utilities, groceries, and other necessities have ballooned, too. The cost for Entertainment keeps growing, too. So, everything feels artificially high and it almost feels overnight.
Now, my family and I have a strong support system (both sets of grandparents have long, healthy marriages, financially stable), and my wife and I have great educations and strong jobs. So, we’re fine. Annoyed at times, but not really burdened. We simply updated our financial strategies and curbed spending habits. I know lots are doing this, too. HOWEVER, I also recognize my luck and good fortune.
I’m at a point where I have authority and people who report to me. Often times younger, but not the rule. Those younger groups very from straight out of college to life transitions like wedding & family planning. This means many are just now embarking on the right of passage to home ownership. The stories around the 2020’s were insane to me.
While the friends I grew up with were often scouring the housing market like they were Goldilocks, this group was in a gladiatorial fight to move into just 1/14 options they hurled a bid for. I’m sure these bids were on places they liked, but at some point and time, I think that strategy became “anything will do!” They were losing bids on places they put +$40-50K more on the original offer and wouldn’t even make the top 5 bids.
So, what gives? Are we living in the beginnings of the era where we won’t own anything and will effectively have a subscription to everything… including our domicile?
'They Can Outbid Your Children': RFK Jr. Warns That Corporations Are 'Trying To Buy Every Single-Family Home' In America — And They Are On Track To Own 60% Of Homes By 2030
Now, RFK Jr is a little nutty and for him to be in front of this leaves me a little weary. If he’s correct, it’s terrifying. If he’sthe one out front and is correct, will this be taken seriously? If he’s wrong, is this just more political speak to give people to hyperventilate over and force unnecessary changes? Don’t know.
And that makes me uneasy because I can see this society reacting badly to it.
You'll own nothing and you'll be happy
Most of you are probably aware of this, since it stems from an essay authored by Ida Auken, who as a member of Demark’s Parliament, and published on the World Economic Forum’s site in 2016. I’ve included a brief reference below…
Here's how life could change in my city by the year 2030
Author's note: Some people have read this blog as my utopia or dream of the future. It is not. It is a scenario showing where we could be heading - for better and for worse. I wrote this piece to start a discussion about some of the pros and cons of the current technological development. When we are dealing with the future, it is not enough to work with reports. We should start discussions in many new ways. This is the intention with this piece.
Welcome to the year 2030. Welcome to my city - or should I say, "our city". I don't own anything. I don't own a car. I don't own a house. I don't own any appliances or any clothes.
Welcome to the year 2030. Welcome to my city - or should I say, "our city". I don't own anything. I don't own a car. I don't own a house. I don't own any appliances or any clothes.
Again, that was published in 2016. At that point, I and many of my friends were already Home Owners for the last couple of years, but I couldn’t help but think of this and how it applies to today.
I’d seen my house value increase overtime, but since the pandemic, it seems to have skyrocketed overnight. Sure, I could sell it for a nice profit, but what market hell would I be entering? Unless you have the cash to buy a house straight up, the interest rates have been pretty ugly (compared to my current 15 yr, 3%) and to buy a house similar to mine would be paying at a perceived artificial high. So, for my family and I, it’s not a wise move.
That said, my housing payments have exploded w/escrow increasing every year to cover escalating insurance & taxes heavily inflated by the soaring market value. Gee thanks, I’m making no money off my artificially inflated home value and are paying more for the same thing.
Thats obviously not the only cost explosion. As regularly documented, utilities, groceries, and other necessities have ballooned, too. The cost for Entertainment keeps growing, too. So, everything feels artificially high and it almost feels overnight.
Now, my family and I have a strong support system (both sets of grandparents have long, healthy marriages, financially stable), and my wife and I have great educations and strong jobs. So, we’re fine. Annoyed at times, but not really burdened. We simply updated our financial strategies and curbed spending habits. I know lots are doing this, too. HOWEVER, I also recognize my luck and good fortune.
I’m at a point where I have authority and people who report to me. Often times younger, but not the rule. Those younger groups very from straight out of college to life transitions like wedding & family planning. This means many are just now embarking on the right of passage to home ownership. The stories around the 2020’s were insane to me.
While the friends I grew up with were often scouring the housing market like they were Goldilocks, this group was in a gladiatorial fight to move into just 1/14 options they hurled a bid for. I’m sure these bids were on places they liked, but at some point and time, I think that strategy became “anything will do!” They were losing bids on places they put +$40-50K more on the original offer and wouldn’t even make the top 5 bids.
So, what gives? Are we living in the beginnings of the era where we won’t own anything and will effectively have a subscription to everything… including our domicile?
'They Can Outbid Your Children': RFK Jr. Warns That Corporations Are 'Trying To Buy Every Single-Family Home' In America — And They Are On Track To Own 60% Of Homes By 2030
Housing affordability has been a pressing issue in America. While many people point to supply shortages, rising material costs and stagnant wages as drivers behind the crisis, Democratic presidential candidate Robert F. Kennedy Jr. believes there's another culprit — corporations.
"The real reason that housing has outpaced anything else is because there are three giant corporations: BlackRock, Vanguard and State Street," Kennedy said at a recent event in Los Angeles.
He said that these three companies already own 88% of the S&P 500, and now they are coming after single-family homes in America.
…
Corporations can secure financing for real estate at costs 30% less than the richest people in the country, Kennedy said. This gives them a significant advantage over typical American homebuyers.
"So they can outbid you, and they can outbid your children. Our families are now competing against these companies, which are trying to buy every single-family home," he said.
Will Corporations Become ‘Everybody's Landlord'?
In a video posted on X, formerly Twitter, earlier this month, Kennedy projected that by 2030, giant corporations are on track to own 60% of single-family homes in America.
"So BlackRock wants to be everybody's landlord and everybody's neighbor, but I'm not going to let that happen," he said.
"The real reason that housing has outpaced anything else is because there are three giant corporations: BlackRock, Vanguard and State Street," Kennedy said at a recent event in Los Angeles.
He said that these three companies already own 88% of the S&P 500, and now they are coming after single-family homes in America.
…
Corporations can secure financing for real estate at costs 30% less than the richest people in the country, Kennedy said. This gives them a significant advantage over typical American homebuyers.
"So they can outbid you, and they can outbid your children. Our families are now competing against these companies, which are trying to buy every single-family home," he said.
Will Corporations Become ‘Everybody's Landlord'?
In a video posted on X, formerly Twitter, earlier this month, Kennedy projected that by 2030, giant corporations are on track to own 60% of single-family homes in America.
"So BlackRock wants to be everybody's landlord and everybody's neighbor, but I'm not going to let that happen," he said.
Now, RFK Jr is a little nutty and for him to be in front of this leaves me a little weary. If he’s correct, it’s terrifying. If he’sthe one out front and is correct, will this be taken seriously? If he’s wrong, is this just more political speak to give people to hyperventilate over and force unnecessary changes? Don’t know.
And that makes me uneasy because I can see this society reacting badly to it.
