Houses should be depreciating assets, like vehicles, due to the maintenance and upkeep required. Instead it's turned speculative like the stock market. Like it or not, regulatory bodies need to be involved at this point or American citizens will not be homeowners in 30 years. (Not that they ever really owned their homes anyway, as you've pointed out with property taxes.) Unfortunately, half of america has been propagandized to believe that any regulations are bad, so i dont see this ship turning around.
Property taxes are one of the most unjust things - it means you never actually own your Property. There are still a few countries without Property tax.
I can see what you are saying if you compare houses to cars.... however, they arguably built better quality houses in the past (depending on your area) so old houses should be worth more.
There is also supply and demand. With the massive immigration levels into the West, they can't keep up with the demand for housing.
Realistically, regulatory bodies would probably not be helpful at this point, as they would likely just assist govt in destroying society. And put in racial/LGBT+ requirements.
Houses should be depreciating assets, like vehicles, due to the maintenance and upkeep required. Instead it's turned speculative like the stock market. Like it or not, regulatory bodies need to be involved at this point or American citizens will not be homeowners in 30 years. (Not that they ever really owned their homes anyway, as you've pointed out with property taxes.) Unfortunately, half of america has been propagandized to believe that any regulations are bad, so i dont see this ship turning around.
Property taxes are one of the most unjust things - it means you never actually own your Property. There are still a few countries without Property tax.
I can see what you are saying if you compare houses to cars.... however, they arguably built better quality houses in the past (depending on your area) so old houses should be worth more.
There is also supply and demand. With the massive immigration levels into the West, they can't keep up with the demand for housing.
Realistically, regulatory bodies would probably not be helpful at this point, as they would likely just assist govt in destroying society. And put in racial/LGBT+ requirements.
good thing you dont live in chiner.
land, period, can never be owned but only leased. and the max time for the lease cannot exceed 70yrs.
the CCP are smart fucks. there is no way to pass down generational wealth.
also, "land leases" make up like 40% of chiners GDP.