You can literally buy a house by making a YouTube video now a days. It kinda is easy-peasy. Go look at all those TikTok stars. Your ancestors lived in caves be thankful you can even live in a house. It would be much harder to do that without Banks like the FED.
The problem is that you think you need to solve a grand problem instead of inventing something simple like a post-it note or a makeup tutorial. You seem to somehow believe that incumbents ALWAYS win. That is not true. Ingenuity with a superior product is what upends the market, shifts and creates new wealth.
The argument wasn't that they had to invent something to buy a house, it was that it's not a hopeless situation where there is no class mobility. Someone substituted ASSETS for HOUSES for some reason but its not the same thing. ASSETS are what allow some people to have an advantage over others in business.
So many babies on these forums whine about their inadequacies instead of bettering themselves. Making my imaginary number go down does change the fact that YOU AND ONLY YOU have the most power to change your life not some "system". If you can't afford to buy a house, get a better job. Sorry that's harsh. Who said life was easy?
I think you do have some interesting things to say and could convey them better without the negativity of the last paragraph.
I'm coming from the perspective of someone whose extended-extended family ranges from dirt poor laborers to set-for-life landlords.
I'm also drawing on my own experiences. I'm a software engineer, currently on hiatus to work on a YouTube series. I lost a good chunk of change from non-housing assets in 2008 from the meager 401k my internship paid into. I lost the rest when I had to cash in the 401k and sell furniture to have enough cash to wrap up my startup when the market I was in dried up (more like soaked up and polluted by the giant 800lb sponges, plus numerous other factors nobody cares about) and Apple took Primesense out.
So here's what I am saying and relates to what I think everyone else is saying: at every point in my life where I've felt like "now is the time to buy a house," I've just been a few percent short on the down payment. So I keep working and getting promotions and raises and saving, and wouldn't you know, now I'm several more percent short on the down payment despite having more saved, because the treadmill keeps getting longer and spinning faster. And as for other assets, yeah, my stocks are up, but houses are still up more than my risk-tolerable gains.
Meanwhile the people who would have been able to buy reasonable houses in reasonable neighborhoods with reasonable jobs don't have stocks to begin with, and are priced out by migrants with portfolios from even higher cost areas and the massive investors I'm currently having to rent from.
I think you don't understand the difference between "anyone can" and "everyone can". For every hit YouTube makeup tutorial there are a thousand failures.
> You seem to somehow believe that incumbents ALWAYS win
Did you mean to respond to someone else? Where did I say that?
