I find the “… sell for so little” part to be the bull shit part. I’m currently renting a house. My landlord, that owns multiple properties across the city, recently offered all of their tenants the opportunity to buy their houses. The records are public, they bought the house a little after Covid and did some fixing up. They are asking for nearly 3x what they paid for it.

Now they actually did a good job compared to some horror shows I have seen, but not 3x the cost as good. I’m not opposed to people making a small profit off of a property, that amount is just pure greed. At current interest rates buying the house would make my monthly housing costs (mortgage, taxes, insurance, PMI, etc.) more than rent currently. They could have literally thrown out a price that would have resulted in my monthly housing costs exactly match rent and still made a ludicrous profit, but fuck that apparently.

What baffles me about individual homeowners who are happy their home has appreciated so much and would be upset if the value suddenly dropped is how short sighted it seems. Taxes exist (as they should). If the cost of homes keeps outpacing the rise in wages at some point it doesn’t matter how valuable the home is, they won’t be able to afford the taxes.

But what the fuck do I know, I’m just some pleb surf that doesn’t think something like housing should be viewed as an investment vehicle.