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All homeowners are real estate speculators. Wouldn't you also consider anyone buying a "starter home" a speculator? Their goal is to continuously flip their ho
by dubswithus 4y ago
All homeowners are real estate speculators.
Wouldn't you also consider anyone buying a "starter home" a speculator? Their goal is to continuously flip their house.
- babypuncher 4y agoI bought my starter home to live in for 5 years while I continued building my career, not to flip.
- dubswithus 4y agoYou bought it to live in for 5 years and then you flipped it for more money than you bought it? That's the definition of successful speculation.
- babypuncher 4y agoThe difference is turning a profit was not my primary motivation, owning my primary residence was. If making money was my top priority then there are several other houses I looked at that I would have bought instead.
- dubswithus 4y agoImagine someone offered you a house but the agreement was that you could only sell it for what you bought it for. I doubt you would buy it considering there are other options on the market where you could profit in the future. It's 100% speculation. It's part of the package.
- babypuncher 4y agoI'm not sure what this absurd hypothetical has to do with anything. I do not believe anyone is proposing such a requirement. Personally I am in favor of systems that discourage speculative investment but encourage homeownership. This can be done without indiscriminately punishing people for realizing gains in the market value of their domicile. One such mechanism could be offering incentives or tax breaks that require the buyer to use the home as their primary residence for a certain amount of time. I think having the opportunity to own the land you personally live on is a right. Owning land on which others reside but not yourself should be considered a privilege, and privileges always come with strings attached.