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Ask HN: Anyone else feels the commoditization of real estate is unethical?

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Ask HN: Anyone else feels the commoditization of real estate is unethical?

#1
I am reading more and more about startups which are focusing on investments in real estate [1].

Doesn't anyone feel uneasy about it, that more and more people are looking at real estate as a financial tool, not a basic human right to have a roof over one's head?

Aren't startups like this just adding oil to the fire which is the real estate market?

I do not understand how will someone expect for future generations to achieve their own personal freedom and living inside their own four walls.

[1] - https://techcrunch.com/2022/05/17/backed-by-forerunner-and-bezos-back-arrived-a-startup-that-lets-you-buy-into-single-family-rentals-for-as-little-as-100/

Re: Ask HN: Anyone else feels the commoditization of real estate is unethical?

#5
I definitely do. It's something that turns a basic necessity into a speculative asset, with a price distorted by the money poured into it. Airbnb is also a deeply harmful influence on housing prices.

Imagine if we did the same thing with, say, water: privatized it and then "democratized" ownership of it.

It's easy to get retail investors to buy things at inflated, speculative prices, so the price of water would go up. People would say, "Why are so many people dying due to lack of access to water?" And we would blame these startups, laws would be passed, and we would fix it.

Unfortunately the necessity of housing is not as direct and clear, and we have a long history of denying housing to people who are unlucky, sick, or the children of such people.

Re: Ask HN: Anyone else feels the commoditization of real estate is unethical?

#7

Quoted post unavailable.

What is a human right to you then? I think of human rights as those things required by all humans to live and be healthy, but you must have your own definition.

Probably a case of negative rights versus positive rights

https://alabamapolicy.org/research/understanding-the-differe...

Re: Ask HN: Anyone else feels the commoditization of real estate is unethical?

#8
"Men did not make the earth. It is the value of the improvements only, and not the earth itself, that is individual property. Every proprietor owes to the community a ground rent for the land which he holds"

— Thomas Paine, Agrarian Justice, 1797

Re: Ask HN: Anyone else feels the commoditization of real estate is unethical?

#9
post #6

> I do not understand how will someone expect for future generations to achieve their own personal freedom and living inside their own four walls. Why would that be desirable?

Otherwise it would lead to a concentration of wealth among the few, and increase the gap between the rich and the poor. And are you asking why personal freedom is so important to people?

Re: Ask HN: Anyone else feels the commoditization of real estate is unethical?

#10
Doesn't commoditization lower the prices of goods? I guess it comes down to the math and amount of speculation.

Maybe you're referring to the renting vs owning aspect of it that is potentially bad. In which case I would refer you to other countries' housing systems, and look into georgism/the land value tax.

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