Comment on Rent is theft
pishadoot@sh.itjust.works 2 days agoI don’t think you realize what you’re wishing for, which is ok if you didn’t live through it as an adult, but the 2008 housing crash was so much more devastating than you probably realize.
So, so many lives wrecked.
I want to see more housing inventory come to market and see some price corrections for sure, but the scale of crash you’re talking about wishing for, the only reason you could possibly desire it is from stark naivete of a young person who doesn’t understand the scale of the disaster you’re advocating for.
We need more housing inventory, less NIMBY blocking it, and stiff taxes on investment homes that disincentivize people or companies from owning tons of homes.
We want a market correction, not a crash. They’re different.
HexParte@lemmy.zip 2 days ago
Here’s the thing…
So, I do. I know exactly what I’m asking for. When the crash happens, people will die. Lots of people will die. Not just lives being wrecked. Not just people losing jobs. People will die.
Here’s the thing. We’re already seeing that. The alternative is that things continue to go up in price and people can’t afford basic necessities like insulin. At the current rate of inflation starting from 2022, a person with diabetes would spend >$2million in the next 50 years just on that. By 2070 that would be over $120K/year.
So my argument is, what’s better? Having people with money lose some of it and ultimately get bailed out, or let Americans die en masse so that the rich can keep their money?
As for my part about people dying due to a crash, yeah, that happens. But my argument is that we are dying already and that rate is going to increase because of the cost of everything. Would you rather keep everything together with duct tape and just hope the bottom never falls out, knowing that it will fall out, but keeping millions of Americans in poverty and kill them fast? Or would you want to embrace the crash knowing that now we can rebuild? Because that’s what happens in the economic cycle.
Because again, the things they warn us about; people losing homes, jobs, access to healthcare, etc. These things are already happening so that they can continue to make stock go up and keep their bank accounts fat. They’ve subsidized their massive salaries and stock portfolios by laying off hundreds or thousands of workers so they can (a) show a ton of profit or (b) use the money they “saved” by firing workers to jump into AI because this means they can pay themselves more. T-Mobile just laid off ~500 employees after many rounds of layoffs since 2023 in October and more have already been announced. Cisco laid off ~8000 people in less than a year between 2023 & 2024. The Federal Govt. has laid off how many in the last year? All in the name of profit. We’re already dealing with the things they warn us about.
So really, what are we afraid of? All of these things we worry about happening are already happening? The reality is that crashes don’t hurt most Americans, just the ones working in corporate (which I do). I know what I’m asking. But what alternative is there?
FarmTaco@lemmy.world 1 day ago
bro im not even gonna read the rest. “I hope people die, so that I can have more” is fuckin wild