thoughts on home ownership

Posted: August 3rd, 2018 | No Comments »

from laura olin’s newsletter:

A recent episode on housing policy (super important! usually super boring to talk about!) included a fascinating discussion about the fact that so much of American wealth generation is due to the weird collective decision we’ve made that housing gains more value over time. In other countries, like Japan, houses are perceived like cars or any other major commodity—over time they wear out and actually lose value.

this is FASCINATING. and i’ve been thinking about how everyone buys homes and then just tears out what everyone did before them and renovates (and wastes? can i say it?) and it’s all this weird game of making it new again. i’m looking around at our house, which is awesome, we are lucky, but also in need of A LOT of TLC and repairs and new windows and general finishing and i’m just like, hmm why aren’t we renting again? what is the exact point of all this again? (also strange fact — this episode of why is this happening? features giorgio angelini, who used to work at the continental club when i worked at the san jose back in 2002/2003!!!!!!)

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