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Colorado Homeowners' Mass Exodus Sparks Fears of Housing Market Collapse
(www.newsweek.com)
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this post was submitted on 04 Nov 2023
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Lol just $1000 extra a month. I agree that no, those people aren't ultra wealthy, but let's not act like that much a month isn't a completely unobtainable amount for many, many people, especially when rent is eating up 50% of people's paychecks to start with.
If you're a homeowner and not wanting to sell or refinance this isn't a big deal for you. Your taxes go down. If you own a vacation home in the mountains I am just not that bummed that your investment has lost value
I'm not and probably never will be a homeowner, but I wasn't talking about the topic of the article, just laughing at the idea that someone could say just save an extra 1k a month for a decade like that's an easy thing to do.
They were more meaning, these people aren't rich, just slightly better off than you, and that's not who we should be fighting with.
I agree with you but generally but there are unlucky people that will get ducked. There are situations where you HAVE to sell. If someone loses a job and for a million possible reasons can't get equivalent employment and can no longer afford their mortgage for example. Medical bills, spouse dies, etc.
No one is pretending that's the case. Eating this money simply isn't enough to make the lives of the ones that don't have it measurably better. There's a fuckload more extracted further up the chain. Distributing some of that money should be enough to get the ones that don't have the extra $1000 a month have it. That's my point. Put differently, if you think the person that can save $1K a month is wealthy, the people that save $10K per month would be happy to offer the $1K guy's money to you, while they keep theirs, and you won't find yourself in a significantly better position than before.
Eating the rich is the way to go, but it can only work if we eat the rich. Not the ones making $10/hr more.