{"version": "1.0", "type": "rich", "title": "I hear advice from the older generation that \u201cbuying a house is an investment\u201d.\n\nOn one level, I get that. Buying a house is a...", "author_name": "kontextmaschine", "author_url": "https://kontextmaschine.com", "provider_name": "kontextmaschine", "provider_url": "https://kontextmaschine.com", "url": "https://kontextmaschine.com/post/724225534589091840/", "html": "

kontextmaschine:

st-just:

I hear advice from the older generation that \u201cbuying a house is an investment\u201d.

On one level, I get that. Buying a house is a better way to spend money than renting, because at the end, you have something. You have a whole frigging house.

On another level, I think that the idea that home prices should outpace inflation is insane and maybe has broken modern society.

-Andre Cooper, Maybe Treating Housing as an Investment was a Colossal, Society-Shattering Mistake

This entire article is “a-HYUK, why would we expect homes to appreciate when the building’s obviously a depreciating asset? We’ve simply stumbled down a nonsense path that I just realized because I r so smart!”

Because even as the structure depreciates the property claim on the underlying land appreciates because it’s a finite good facing rising demand, dipshit.

\n

This points at the question they really haven’t had to confront since the legal form was established in the 1970s: what are condominiums for?

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