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You pay $1000 a month. Of that, $800 goes towards mortgage, far less because it is no longer a speculative investment.
It is bizarre that you think that housing is used as a "speculative" investment. Housing and stocks were monetized because our money is centrally planned and devalues through excessive money creation, and people simply need a place where they can store wealth without having it destroyed. If people could use money to store their wealth housing would be demonetized and prices would go down, then your coop model could naturally outcompete renting if it truly is superior. Fix the money, fix the world.
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It is bizarre that you think that housing is used as a “speculative” investment.
No it's not.
https://create.umn.edu/wp-content/uploads/2020/02/Real-Estate-Speculation.pdf
people simply need a place where they can store wealth without having it destroyed
That's what banks are for.
If people could use money to store their wealth housing would be demonetized and prices would go down, then your coop model could naturally outcompete renting if it truly is superior. Fix the money, fix the world.
This is a load of nonsense. People already use money to store their wealth.
Coops haven't taken off because it is in the financial interest of the owning class to maintain the status quo. They do everything in their power to buy up every property they can, and to influence the law to keep their business in power.
The problem is systematic, it requires a fundamental change to the structure of our economy.
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This is a load of nonsense. People already use money to store their wealth.
I guess you never heard about inflation, must be nice to be that privileged.
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I guess you never heard about a savings account or corporate greed, must be nice to be that privileged.
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If you believe that a savings account outpace inflation I don't know how to help you. You've obviously never been poor, or very rich, if you swallow the official CPI numbers.
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If you believe that a savings account outpace inflation I don’t know how to help you.
Mine does, at least, actual inflation.
The fake inflation that is just corporate greed is something that can never be outpaced by anything, not even housing as an investment which just makes your point double moot.
The solution is to put an end to the current economic system. It's not serving me or you. It's just stealing from us:
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The solution is to put an end to the current economic system. It’s not serving me or you. It’s just stealing from us:
You almost get it, the system is stealing from you, but through monetary debasement. Corporate greed is actually mostly a side effect of monetary debasement, because people are forced to invest into companies to preserve their wealth, and the companies need to increase profits excessively to keep up with inflation, pay out dividends, and raise their stock price.
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the system is stealing from you, but through monetary debasement
This is only one of the many ways in which the rich steal from us. Believe me, I fucking get that part.
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Cool! You may want to look more into the consequences of monetary debasement though.
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Will do. You should look more into non market housing and co-ops though.
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And why does monetary debasement happen? you use it like it's just something some evil person did to harm you. when in reality it's a necessity to counteract wealth hoarding.
The Libertarian fever dream of a society without inflation, or straight up wealth taxation can only lead to the creating of a new aristocratic dictatorship, because eventually a small group of people would own everything, literally recreating feudalism.
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And why does monetary debasement happen? you use it like it’s just something some evil person did to harm you. when in reality it’s a necessity to counteract wealth hoarding.
Ah, another rich, privileged asshole. Inflation hits poor people the hardest, they have nothing to invest, they have no surplus money to absorb increased cost, they have no bargaining power with their employer.
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