Damn, it’s almost as if our economy has a big fucking leak - it’s like the rich assholes getting a free ride are consuming the profits that should be reinvested into our social welfare and economic growth.
It’s actually mostly draining into the net value of people who own property. You could classify them as “the rich” but around 65% of residential properties in the country are owned by the family that lives in them, so the vast majority of this land value appreciation isn’t just going to the 1%, or the 10%, it’s going to the 50% which is heavily weighted towards older people.
Damn, it’s almost as if our economy has a big fucking leak - it’s like the rich assholes getting a free ride are consuming the profits that should be reinvested into our social welfare and economic growth.
It’s actually mostly draining into the net value of people who own property. You could classify them as “the rich” but around 65% of residential properties in the country are owned by the family that lives in them, so the vast majority of this land value appreciation isn’t just going to the 1%, or the 10%, it’s going to the 50% which is heavily weighted towards older people.