Re:How Steve Jobs Became a Billionaire
by thaumasiotes on Thursday November 03, 2016 @05:02PM
(#12867928)
> guess what? It's gone up! It's gone up by labour cost + materials + background land price inflation. But they see it as a wise "investment".
If you put your own capital and work into something, and its value increases... that's what an investment is.
Re:How Steve Jobs Became a Billionaire
by branchless on Thursday November 03, 2016 @05:22PM
(#12868085)
No they are adding zero value, they are riding off the corrupt system and taking labour from others.
Also in most casts they are not putting capital in, they are borrowing from a bank who create the debt. They are little more than outsourced debt collectors.
Re:How Steve Jobs Became a Billionaire
by thaumasiotes on Thursday November 03, 2016 @05:37PM
(#12868219)
You specifically state that they are adding value. Going up by labor and materials means value has been added.
Re:How Steve Jobs Became a Billionaire
by branchless on Thursday November 03, 2016 @05:48PM
(#12868310)
Yes but my main point is that the primary gain was on the land due to govt policy. These people are typically amateurs who basically paint a wall. Unskilled labour plus a few $K in materials == not much. Yet the gains are significant.
You get this in the UK all the time, property shows where people "do up" a dilapidated property over 6 months, then relist it. And guess what? It's gone up! It's gone up by labour cost + materials + background land price inflation. But they see it as a wise "investment".