Richest 1% amassed almost two-thirds of new wealth created since 2020

Re:Richest 1% amassed almost two-thirds of new wealth create... by klipklop on Monday January 16, 2023 @03:56PM (#34405370)

Imagine how the folks feel that have been perma-priced out due to real estate speculation and near-zero interest rates raging on for years.

[ Parent | on HN ]

Re:Richest 1% amassed almost two-thirds of new wealth create... by klyrs on Monday January 16, 2023 @04:16PM (#34405581)

No need to imagine; I thought I was going to spend the rest of my life renting illegal moldy basement apartments until about 4 years ago.

[ Parent | on HN ]

Re:Richest 1% amassed almost two-thirds of new wealth create... by klipklop on Monday January 16, 2023 @05:12PM (#34406141)

Congrats for getting out of that trap. Now for the next one. Pay off the mortgage. In my opinion you are not "free" until some bank or landlord cant take your housing away from you.

[ Parent | on HN ]

Re:Richest 1% amassed almost two-thirds of new wealth create... by klyrs on Monday January 16, 2023 @05:17PM (#34406186)

Indeed. Those "near-zero" interest rates you mentioned? They don't last. We could only lock in a 5-year rate -- the rates that come after that loom large in our awareness.

[ Parent | on HN ]

Re:Richest 1% amassed almost two-thirds of new wealth create... by sokoloff on Monday January 16, 2023 @06:49PM (#34407180)

Property tax is forever. Your city/county will still take your paid-off house if you don’t pay property taxes for long enough.

[ Parent | on HN ]