Re:Why Land and Homes Actually Tend to Be Disappointing Inve...
by dredmorbius on Sunday July 17, 2016 @05:25PM
(#12111918)
In the US, home ownership has already been moralised. Renting is looked down on, renters are second-class citizens.
The moralising started well before HappyFunGuy2's comment.
Actually, I don't read his comment at moralising at all -- that's a tone argument, and is frequently nonconstructive. He's parried it well, that's rare.
Addressing your low interest rates: the question is why that should have driven massive investments in investment-class assets (including real estate) rather than productive capital. Secular declines in productive return on capital investment beginning in the 1960s suggest exeptionally deep structural issues in the real, nonfinancial economy, as many have been arguing, including increasingly economists and economic analysts (see Robert Gordon's The Rise and Fall of American Growth, or Deloitte's "Shift Index").
The moralising started well before HappyFunGuy2's comment.
Actually, I don't read his comment at moralising at all -- that's a tone argument, and is frequently nonconstructive. He's parried it well, that's rare.
Addressing your low interest rates: the question is why that should have driven massive investments in investment-class assets (including real estate) rather than productive capital. Secular declines in productive return on capital investment beginning in the 1960s suggest exeptionally deep structural issues in the real, nonfinancial economy, as many have been arguing, including increasingly economists and economic analysts (see Robert Gordon's The Rise and Fall of American Growth, or Deloitte's "Shift Index").