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Old 01-21-2018, 01:36 PM
 
Location: Aurora Denveralis
3,072 posts, read 1,040,161 times
Reputation: 3925

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Quote:
Originally Posted by CGab View Post
Actually, 63% of Americans own Real Estate so not sure where you pulled your figures from. This link also shows wealth overall for Americans.
Quote:
Originally Posted by Thatsright19 View Post
He said one third of American don’t own real estate, and then you posted saying that two thirds do.
Reeding iz hardd.

Actually, while doing a quick lookup to see if those figures were still current, I note that it's expressed as "64% of Americans are homeowners." [Wackopedia's box figure] The longer you think about that figure, though, the slipperier it gets. Does that mean 321M x 0.64 = 205M individuals own real estate? Or that 64% of households own their home, with some largish multiplier of individuals per household?

This is why tossing out disconnected numbers rarely leads to meaningful conclusions.
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Old 01-21-2018, 01:41 PM
 
Location: Ohio
18,035 posts, read 13,255,239 times
Reputation: 13840
Quote:
Originally Posted by freemkt View Post
One-third of Americans own no real estate and have very little wealth (median ~$5,000).

Obviously wealth is difficult for these people to obtain.
That's not a valid reason to rip money from my pockets.

It's not my fault those people are stupid. There's nothing to prevent them from forming a co-op and pooling their money to buy real estate and reaping the dividends.
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Old 01-21-2018, 01:42 PM
 
11,433 posts, read 19,456,640 times
Reputation: 18140
Quote:
Originally Posted by freemkt View Post
Earns less than a burger flipper + has to pay /bay Area rents = This Does Not Compute
She downscaled her living quarters, her rental contract states they can’t raise her rent to market, they can only raise a percentage yearly. It can be done.
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Old 01-21-2018, 02:03 PM
 
Location: Saint John, IN
10,638 posts, read 3,324,377 times
Reputation: 12748
Quote:
Originally Posted by Thatsright19 View Post
He said one third of American don’t own real estate, and then you posted saying that two thirds do.


And I quickly changed my wording as I misspoke! My point was to show the statistics since the previous poster did not!
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Old 01-21-2018, 02:05 PM
 
Location: Aurora Denveralis
3,072 posts, read 1,040,161 times
Reputation: 3925
Quote:
Originally Posted by Mircea View Post
That's not a valid reason to rip money from my pockets.
Why not? You're likely ripping it from theirs... just through a deniable chain of economic linkages instead of at sweaty gunpoint.

Wealth is not zero-sum, but it's also not infinite nor fairly allocated. Winners who insist they don't owe a dime to anyone less fortunate are... probably white Americans of means.
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Old 01-21-2018, 02:21 PM
 
33,046 posts, read 20,736,371 times
Reputation: 8928
Quote:
Originally Posted by Mircea View Post
That's not a valid reason to rip money from my pockets.

It's not my fault those people are stupid. There's nothing to prevent them from forming a co-op and pooling their money to buy real estate and reaping the dividends.

Sorry, I thought of that decades ago and quickly discovered that SEC rules preclude large pools of very-low-equity investors.
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Old 01-21-2018, 02:24 PM
 
33,046 posts, read 20,736,371 times
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Quote:
Originally Posted by Quietude View Post
Why not? You're likely ripping it from theirs... just through a deniable chain of economic linkages instead of at sweaty gunpoint.

Wealth is not zero-sum, but it's also not infinite nor fairly allocated. Winners who insist they don't owe a dime to anyone less fortunate are... probably white Americans of means.

Renting is where wealth is redistributed from those unable to retain their own wealth, to those able to command wealth from others.
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Old 01-21-2018, 02:26 PM
 
33,046 posts, read 20,736,371 times
Reputation: 8928
Quote:
Originally Posted by Tallysmom View Post
She downscaled her living quarters, her rental contract states they can’t raise her rent to market, they can only raise a percentage yearly. It can be done.

Rent control? Doesn't exist in this country outside CA and NYC.

p.s. in a market where rents are increasing 10% per year, what rational landlord would agree to a rental contract that states they can't raise rents to market?

Reality FAIL.

p.p.s. I downsized my living quarters (to a 9x9 room) and my rent went UP. Go figure.
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Old 01-21-2018, 02:37 PM
 
33,046 posts, read 20,736,371 times
Reputation: 8928
Quote:
Originally Posted by Quietude View Post
Reeding iz hardd.

Actually, while doing a quick lookup to see if those figures were still current, I note that it's expressed as "64% of Americans are homeowners." [Wackopedia's box figure] The longer you think about that figure, though, the slipperier it gets. Does that mean 321M x 0.64 = 205M individuals own real estate? Or that 64% of households own their home, with some largish multiplier of individuals per household?

This is why tossing out disconnected numbers rarely leads to meaningful conclusions.

Recently I finally got around to researching the definition of that term.

Turns out that 64% of dwellings are owner-occupied. Many houses - especially in high-COL areas - have an owner-occupant PLUS one or more individuals who rent from the owner.

So a house with an individual owner and 10 renters is owner-occupied, and only a dwelling devoid of an owner-occupant is considered renter-occupied.
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Old 01-21-2018, 02:38 PM
 
Location: Saint John, IN
10,638 posts, read 3,324,377 times
Reputation: 12748
Quote:
Originally Posted by Quietude View Post
Reeding iz hardd.

Actually, while doing a quick lookup to see if those figures were still current, I note that it's expressed as "64% of Americans are homeowners." [Wackopedia's box figure] The longer you think about that figure, though, the slipperier it gets. Does that mean 321M x 0.64 = 205M individuals own real estate? Or that 64% of households own their home, with some largish multiplier of individuals per household?

This is why tossing out disconnected numbers rarely leads to meaningful conclusions.
My link was from August 2017. The point is that more Americans own than rent. If you are one that rents in this country than you are at the mercy of the person who owns the property, unless you are in one of a few states that have rent control. The only way to get around it is to buy your own property and don't rent. The U.S. offers plenty of opportunities for one to establish enough wealth to purchase their own property. I'm a prefect example. I purchased my first property at the age of 23 with absolutely no help from anyone else. How? Work hard and save!
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