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re: Sharp Rise In Home Prices, Mortgage Rates Driving Working Americans Out Of The Market
Posted on 5/17/22 at 11:13 am to LSUFanHouston
Posted on 5/17/22 at 11:13 am to LSUFanHouston
quote:
You are right in that it's not a "finite pie" but as the pie grows... the percentage that has accrued to the top 1 percent has grow... at the expense of the 50-90 percent group (the middle class).
So your complaint is that the middle class aren't getting wealthier at the same rate as the upper class?
At least you admit the middle class is in fact getting wealthier.
Your entire argument is grounded on one thing: envy.
Take some advice: Get out of the country and travel, and I don't mean to all inclusive resorts or a "European Vacation". It will change your perspective real fricking quick.
This post was edited on 5/17/22 at 11:14 am
1
Posted on 5/17/22 at 11:13 am to Centinel
quote:
And the poor person would be unemployed and make nothing.
Agreed
quote:
See above.
The rich man created new wealth for himself via hiring the poor man for the rich man's benefit.
Both people are in a better position now. The rich man is even better off.
Posted on 5/17/22 at 11:13 am to LSUFanHouston
quote:
Their wealth is increasing because they are employing others... see the numbers I just posted.
And your point is? Oh no! They make more than me! Me jealous!
How many people do the bottom 10% of income earners employ? Why have you ignored them?
Posted on 5/17/22 at 11:13 am to LNCHBOX
quote:
Rich person has 1M. Poor person has 1K.
Rich person employs poor person and pays them 25K. Because of leverage, that rich person earns 75K from the efforts of the poor person... netting the rich person 50K.
So now... rich person has 1M and 50K, Poor person has 26K.
If rich person did not employ poor person... rich person would still have 1M and poor person still have 1K.
So... is that wealth trickling down?
Both people are better off... but the rich person is even "better" better off.
This is why things such as "trickle down" are stupid, oversimplified concepts.
This serious?
insert jacksonville jaguar fan gif
Posted on 5/17/22 at 11:14 am to jclem11
quote:
Wealth inequality and private equity funds buying up every single family home they can get their hands on is just not good for society.
Is anyone here claiming otherwise?
Posted on 5/17/22 at 11:14 am to LSUFanHouston
quote:
Both people are in a better position now.
Ergo, trickle down economics works.
quote:
The rich man is even better off.
Irrelevant and your jealousy is palpable
Posted on 5/17/22 at 11:14 am to LSUFanHouston
quote:
Both people are in a better position now. The rich man is even better off.
so the guy giving out employment and making money for the poorer hired isn't supposed to be making any money off his company?
sounds pretty dumb
Posted on 5/17/22 at 11:14 am to LSUFanHouston
quote:
Both people are in a better position now. The rich man is even better off.
So again, your entire argument is rooted in envy. You freely admit that everyone is better off, you just don't like the fact you aren't as better off as they are.
Posted on 5/17/22 at 11:15 am to LSUFanHouston
quote:
The rich man created new wealth for himself via hiring the poor man for the rich man's benefit.
Both people are in a better position now. The rich man is even better off.
And that's a problem why? Should people not be incentivized to take risks by opening businesses?
Posted on 5/17/22 at 11:15 am to frequent flyer
I had to move to afford a house. CPA and the gf and I combined make over 200 a year. Denver is just too expensive.
Posted on 5/17/22 at 11:16 am to beerJeep
quote:
How many employees do the bottom 10% of Americans employ?
How many employees do the top 10% of Americans employ?
This logic never makes sense to the perpetual victim class. Its always the big bad rich people keeping them down.
Posted on 5/17/22 at 11:16 am to LNCHBOX
quote:
Seems covid has had a lot to do with that Q4 of 2019 looks a lot more like your 1989 figure.
2019 Q4... the top 1 percent had 30.4 Percent and the 50-90 percent had 29.0.
So the "flip" had already occured by then (so you are wrong saying "Covid had a lot to do with that and Q4 of 19 looks like 1989 figure)... but yes COVID seems to have supercharged the growing discrepancy.
Make sure you set the chart to distribute by "wealth percentile"
Posted on 5/17/22 at 11:16 am to LSUFanHouston
quote:
Both people are in a better position now. The rich man is even better off.
So, the poor guy is better off with nothing, than say...40k a year in your opinion, than a rich guy who was rich and just got richer?
Yes, it is as dumb as it sounds.
Posted on 5/17/22 at 11:18 am to RogerTheShrubber
bet he supports a cap on people making money. Like there should be no such thing as billionaires or maybe even multimillionaires 
This post was edited on 5/17/22 at 11:19 am
Posted on 5/17/22 at 11:18 am to Beauw
quote:
to the perpetual victim class.
They're left wing populists. The only thing that makes sense is traditional Marxist victimization.
Even their own damn party moved beyond class warfare and doesn't give a flying frick about the middle class, but these Luddites cannot escape their traditional Marxism.
Posted on 5/17/22 at 11:18 am to LNCHBOX
quote:
Is anyone here claiming otherwise?
The general ethos of this board is I am just a temporarily embarrassed millionaire and if I just work a little bit harder I will all be rich like Bezos and Daddy Elon.
This is just not reality and delusional. There are structures in place to ensure Daddy Elon stays rich and you will get some scraps so you will be quiet and keep running on that hamster wheel to make the capital / owner class more wealthy.
Posted on 5/17/22 at 11:19 am to Centinel
quote:
So your complaint is that the middle class aren't getting wealthier at the same rate as the upper class?
I don't have a complaint. I am simply showing stats that show that the top 1 percent are holding a larger percentage of total wealth than they did 30 years ago... and their percentage of total wealth is growing while the middle class percentage of total wealth is decreasing.
Because of that... the 1 percent can more afford to buy houses at higher prices and turn around and rent them to the middle class who can't afford to pay those higher prices.
quote:
Your entire argument is grounded on one thing: envy.
I don't have an argument. My goal is to be in the 1 percent.
quote:
Get out of the country and travel, and I don't mean to all inclusive resorts or a "European Vacation". It will change your perspective real fricking quick.
The poorest man in America is better off than 90 percent of the world. What's your point?
Posted on 5/17/22 at 11:20 am to Mahootney
quote:
We all need to guy by 40-80 acres, build a house, start a garden and orchard, and get some livestock.
Honestly 1-2 acres would probably work for a small family - assuming you are allowed to do a large vegetable garden and raise some chickens to help soften the blow of insane food prices.
Posted on 5/17/22 at 11:20 am to jclem11
quote:
The general ethos of this board
Has been for at least a year, that investment funds are fricking up the market
You're that populist I referred to earlier.
Posted on 5/17/22 at 11:20 am to LSUFanHouston
quote:
2019 Q4... the top 1 percent had 30.4 Percent and the 50-90 percent had 29.0.
So the "flip" had already occured by then (so you are wrong saying "Covid had a lot to do with that and Q4 of 19 looks like 1989 figure)... but yes COVID seems to have supercharged the growing discrepancy.
Make sure you set the chart to distribute by "wealth percentile"
The share for top 1% was trending down, then COVID happened.
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