Rise of the yimbys: the angry millennials with a radical housing solution

Re:Rise of the yimbys: the angry millennials with a radical ... by toomuchtodo on Monday October 02, 2017 @04:51PM (#15387835)

> But it is nearsighted because even if the price of your home goes up, you cannot sell it because you need a place to live. It is a lose/lose. It takes away a significant part of purchasing power. Money that could be spent on shopping, entertainment, etc is used to pay the mortgage.

It is forced savings for retirement. Most people downsize once their kids leave home, cashing out their equity (as long as you haven't cash out refi'd your home to buy cars and vacations).

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Re:Rise of the yimbys: the angry millennials with a radical ... by _chris_ on Monday October 02, 2017 @08:09PM (#15389013)

> Most people downsize once their kids leave home

Except you can't do that in California, because then you're walking away from your Prop 13 "rent-controlled" property taxes.

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Re:Rise of the yimbys: the angry millennials with a radical ... by corpMaverick on Tuesday October 03, 2017 @10:28AM (#15392620)

Some people, those who bought low and sold high at the end of their lives may recover. I can argue that even these people lose because the high prices of housing increased overall living costs during their lives. (e.g. Local business have to pay more on rent, employees need more money,they have longer commutes, etc)

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