[bloomca]

The biggest advantage of buying a house is that it forces people to actually put money into a giant savings account which is not easily accessible. Otherwise people just spend the vast majority of the money they have. As an investment, houses are historically mediocre outside of some hot areas.

[carlosjobim]

Why is that good? That is horrible for economic development and employment. It is worse for a country than being nuked.

[prmph]

But it is good for the individual.

You do have a point that in the long run, the health and growth of the overall economy impacts the quality of life of individuals, but the interests of individuals must be balanced against the interests of a country as as a whole.

Consider that people immediately spending all their salary at the beginning of every month and being broke and hungry for the rest of the month is good for the economy, but is obviously not what we want if we care about human well-being.

[carlosjobim]

But that is an argument for banning everything and forcing people into a Matrix style pod at birth, since some people otherwise will be irresponsible.

And if you're talking about people who go broke and hungry waiting for the next pay check, in most cases it is because they have to spend so much on their rent or mortgage. Being "house-poor", as they call it.

[iamalizard]

I'd also like an answer to why it's good, but also to why it's horrible or "worse than being nuked". I admit I know nothing. :)

[rogerrogerr]

Well, at least if you're nuked, you might be able to redevelop that land before the nimby's emerge from their shelters.

[blitzar]

Contrary to popular belief, people spending all their money buying pointless shit is not good for the economy.

[carlosjobim]

If all the money of a country is not locked up in real estate of the olds, then that money could be invested in small and large businesses, in infrastructure, in young workers being able to create a family, and even useful products and useful services.

But it seems that the entire world has decided that everything except real estate - even the continuation of the species through children - is just "pointless shit". Better to have a very expensive tomb to haunt.

It seems like we're just a few years away from when the elderly start demanding to be buried in their houses and have them sealed off for all future.