Only 9 percent of Americans younger than 30 have a “very positive” view of capitalism, according to a new CBS/YouGov poll.
That shows a stark generation between Generation Z and older generations.
The data arrives amid a surge in democratic socialist victories across the U.S. — and not just in progressive corners of the country. Florida state Rep. Angie Nixon (D) on Tuesday beat out the more moderate Alex Vindman (D) in the Democratic Senate primary in Florida, a state known for its sunshine, not socialism.
Not to mention we shouldn’t be valuing property in terms of monetary value, but rather the utility you get for that value.
Property is worth a shit ton right now, and I get that people like counting the high value of their property as an asset. But say you go to sell that property…you still have to live somewhere afterwards. Any new place you’d be buying or renting would be just as overinflated in terms of cost.
If the housing market were to crash again, you can’t sell your house for as much, but also you wouldn’t need to pay as much to move in somewhere else either. A house losing half its value doesn’t delete half the house, it just makes it more accessible to buyers who don’t already have a house to sell.
A problem here is: how many people with 20+ years on their mortgage are suddenly owing more than the house is worth? If my house’s value were to drop by half tomorrow, I’d be stuck and unable to move because I would still need to pay as much as the previous values in order to move somewhere else.
I don’t know how we fix that, but I don’t think it’s an insurmountable barrier to making housing affordable.
That is something people focus a lot on, but far more important is: can you afford to pay it? As long as the monthly payment doesn’t change, the value of my house doesn’t affect me at all. The problem comes when banks suddenly want to foreclose homes because it’s underwater for reasons that the owner can’t control.