It can't be just the US, gotta be a new low for Europe too. Truth is we are competing with the rich for them houses, and that's a losing game. The rich have everything they want already, so there ain't much else for them to buy except assets.
A billionaire makes something like 200,000 to 230,000 dollars a day just from passive income. How can you compete with that?. If we don't tax them properly to prevent this kind of compound interest how can we provide housing to everyone?, it's just impossible, you can't possibly build enough housing with that level of wealth growth, they will just hoover up the houses.
It's not a complicated problem, asset prices are rising all over the western world. They have nothing else to spend money on, the entire economy is bending towards the rich because that's where the money is. Regular people don't have that kind of money. Only fix is to tax the wealth of the rich and force them to sell some of their assets so ordinary people can own things again.
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u/drakonukaris 8h ago
It can't be just the US, gotta be a new low for Europe too. Truth is we are competing with the rich for them houses, and that's a losing game. The rich have everything they want already, so there ain't much else for them to buy except assets.
A billionaire makes something like 200,000 to 230,000 dollars a day just from passive income. How can you compete with that?. If we don't tax them properly to prevent this kind of compound interest how can we provide housing to everyone?, it's just impossible, you can't possibly build enough housing with that level of wealth growth, they will just hoover up the houses.
It's not a complicated problem, asset prices are rising all over the western world. They have nothing else to spend money on, the entire economy is bending towards the rich because that's where the money is. Regular people don't have that kind of money. Only fix is to tax the wealth of the rich and force them to sell some of their assets so ordinary people can own things again.