• disguy_ovahea@lemmy.world
    2075·
    7 months ago

    Grandma is not the problem. It’s the ~800 billionaires in the US controlling sizable portions of single-family residences through private equity, artificially controlling market prices for maximum profit per sale. Blackstone alone owns 300,000 residences.

    Fun Fact: There are 16 million vacant homes nationwide. That’s 28 vacant homes for every unhoused person.

    https://ips-dc.org/report-billionaire-blowback-on-housing/

    • Midnight Wolf@lemmy.worldEnglish
      418·
      7 months ago

      So you’re saying granny would be fine with a 100% return on her investment at $36 for an offer? No? Shocked I say, shocked.

      Granny is part of the problem. Not the biggest part of the pie, but still guilty.

      • KuroiKaze@lemmy.world
        41·
        7 months ago

        Yeah this is honestly just an incredibly short-sighted and stupid take on the issues. Granny is in the same bucket with the young man in that they are both getting played by billionaires. Being mad at her is an incredible waste of energy compared to campaigning for fair taxes on corporation and billionaires. Anyone with less than 10 million net worth isn’t really your enemy. Stay focused on winning the class Warfare and not dividing regular people.

      • UnderpantsWeevil@lemmy.worldEnglish
        2·
        7 months ago

        If you can provide her with 1960s health care and living costs, she might be willing to sell you her house for 1960s real estate prices.

        Would you be replacing her hip for an authentic 1973 mint edition Jefferson Nickel?

    • UnderpantsWeevil@lemmy.worldEnglish
      171·
      7 months ago

      Grandma is not the problem.

      You can’t go blaming the institutions for the high cost of living when it is very clearly this one anonymous old person who isn’t giving this other anonymous young person a sweetheart deal out of misplaced nostalgia.

      Fun Fact: There are 16 million vacant homes nationwide.

      Okay, but a bunch of them are in the Rust Belt, where de-industrialization eviscerated the economy and caused a mass exodus to the Gulf Coast and the Mountain West in pursuit of lower wage service sector and sales employment.

      I suppose you’re going to claim that the wholesale restructuring of the manufacturing economy was the fault of a handful of 90s-era Wall Street bankers and Corporate Executives, rather than millions of Boomer-era suburbanites with pocket change in their retirement accounts 40 years ago?

      Likely. Fucking. Story. This is just bigotry against the 1% is what it is.

    • Gates9@sh.itjust.worksEnglish
      127·
      7 months ago

      I’ve never subscribed to this generational hatred, as true as it is that the boomers voted for this shit, on account of it’s clearly a deliberate psyop “divide and conquer” campaign. It’s as obvious as the crack epidemic or redlining.

      • SGforce@lemmy.ca
        16·
        7 months ago

        It’s hard when you work with a guy like I do. He’s 65 and hates absolutely everybody, including his wife, but he’s a coward so he’s very polite. He requires so much coddling that he spends all day sucking up to everyone for whatever praise he can get then immediately turns around and complains about them. He’ll complain about everyone else to the point where they get their breaks and other privileges taken away. Those privileges are also taken from him, giving him more to complain about.

        It gets worse, but I’m about to go to bed and don’t want to think about that.

        That piece of fucking shit. Sorry about the rant. But guys like that ruin everything for everybody.

        • Gates9@sh.itjust.worksEnglish
          2·
          7 months ago

          When you think about these problems, you have to separate your personal experience from what you observe happening to the whole system.

        • KuroiKaze@lemmy.world
          21·
          7 months ago

          Oh yeah Granny’s really in control. It’s definitely not the billionaires and oligarchs that run everything.

  • son_named_bort@lemmy.world
    645·
    7 months ago

    Almost helped an old lady across the street, but then she said “I need about tree fitty” and that’s when I realized that this old lady was 10 stories tall and a crustacean from the Paleozoic Era.

    • Duamerthrax@lemmy.worldEnglish
      203·
      7 months ago

      Surprise surprise, you only inherit a bunch of debt because that generation lived by “you can’t take it with you”.

      • deranger@sh.itjust.works
        151·
        7 months ago

        As someone who’s dealing with the estate process right now, I don’t think anyone inherits debt. It’s paid out of the estate and nobody else is responsible for those debts.

        • Duamerthrax@lemmy.worldEnglish
          2·
          7 months ago

          Not really, but there’s not much being left for the children of boomers to inherit.

          edit: And in the broader sense, yes. Millennial and younger are inheriting the debt from Bush II’s wars. We didn’t have any vote on that matter, but we’re the ones who are paying that off. 2.8 trillion. After the shitshow of a covid response, I never want to hear someone mention the 3000 dead.

          • deranger@sh.itjust.works
            4·
            7 months ago

            I hear the opposite, boomer’s kids stand to inherit quite a bit. Anecdotally this seems true; granted I am an only child.

            My father is likely to leave me with a few hundred thousand of his retirement account (he doesn’t know what to spend it on, his union pension is more than enough for his needs) and I’ll inherit both his house as well as my grandmothers house, which is now my uncle’s house. My mom’s house will be sold and split between my half brother and my cousin who my mother raised.

        • NιƙƙιDιɱҽʂ@lemmy.world
          1·
          7 months ago

          I was under the impression that was not the case. If the estate has no money to pay out, the collectors are gonna come knocking, no?

          • deranger@sh.itjust.works
            6·
            7 months ago

            I don’t believe so. I was explicitly told by my lawyer not to pay any estate debts with my own money.

            I believe there are a few niche scenarios where somebody else can be responsible for the debt (eg joint account, co-signed loan), but in general, you should never pay somebody else’s estate debts.

          • Raiderkev@lemmy.world
            5·
            7 months ago

            They can come knocking all they want, but you are not legally required as an heir to pay that debt. Surely there are a few exceptions like mortgage payments (if u wanna keep the house), but personal debts like credit cards? Not your problem.

        • Pacattack57@lemmy.world
          25·
          7 months ago

          That is arguing semantics. When people inherit things it is their understanding that it is theirs. If my grandma left me the house but owed 1 million in unpaid debt, you effectively inherit the debt. Regardless of the fact that you could opt out of inheriting it.

          People often go into personal debt to retain inheritance.

          On a separate note inheritance/estate tax is robbery by the federal government.

          • deranger@sh.itjust.works
            51·
            7 months ago

            That is incorrect. If your grandmother left you the house, as in she put your name on the deed as transfer on death, it is not part of the estate and you would get it outright. It would not be affected by the debt.

            If you’re saying there’s a million dollars remaining on the mortgage on the property, of course she can’t just give it to you, it’s still collateral for that mortgage. It’s not hers to give.

            If it was paid off, but part of the estate and subject to the rules of inheritance, then it would be affected by other non-mortgage debt.

            US Federal estate tax does not count until it’s above $13.99 million per individual. In this example, unless it is a huge property, it would not be subject to inheritance tax.

            I think I cut off of $13.99 million is more than adequate and only taxes those who can afford it.

            I’m in the process of directly inheriting something like 200k in various savings and retirement accounts along with a half million dollar life insurance payout, and there are zero taxes on any of that.

            I’m also taking over the deed on a house with $300k mortgage remaining - of course I have to keep paying that mortgage. That’s not inheriting debt. I could turn around and sell the property immediately and get paid the difference between the remaining mortgage balance and sale price.

          • Bgugi@lemmy.world
            35·
            7 months ago

            All taxation is theft.

            Inheritance/estate tax is one of the more ethical ones, though.

  • clockwork_octopus@lemmy.worldEnglish
    131·
    7 months ago

    Ngl, $950K for a house sounds like a steal. Can’t buy a tear-down starter home around here for that cheap…