Quote:
Originally Posted by Yoho
This is so bad.
If someone bought property with their own hard earned money they can do whatever they want with it. Sorry it inconveniences you and the rest of society.
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I don't disagree. I think the government should do something about the gap between wage and property prices though. I don't disagree with people doing what they want with their own property.
I do disagree with people taking advantage of all time
low and artificially low interest rates and using credit, like Helocs, they can't afford. The government can't raise interest rates because it would bankrupt a large number of home owners.
Of these homeowners, some are desperate families who bought more house than they could afford (even though a generation ago this house would have been considered meager). The other group is baby boomers, who think they've accomplished some financial feat, merely by owning a home, and are spending like crazy.
I have more sympathy for the struggling young family than I do the Range Rover driving baby boomer.
Yes people can do what they want with their property. I'm not arguing for forced evictions. I'm staying that the government has to go something about the generational wealth divide.