this post was submitted on 09 Jul 2025
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[–] [email protected] 271 points 5 days ago (9 children)

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/

[–] [email protected] 172 points 5 days ago (5 children)

I've said this before (and caught flak for it) but I think the solution to this is to apply a heavy additional tax to vacant homes (as defined as any home that isn't occupied by a permanent resident for more than 6 months a year), and increase the tax exponentially for each residence beyond the first owned by the same company or individual.

At some point, you make it so expensive to keep unoccupied properties that they're better off letting people live there for free than continuing to let them go unoccupied. Use all of the proceeds from this tax to assist homeless people or build new dense housing developments.

"But Kobold, what about soandso with their summer home?" If you can afford a second home, you can afford to pay a bit more tax on it to benefit the public good.

"But Kobold, a lot of those homes that are vacant are run-down, or are in places nobody actually wants to live!" Doesn't matter. If they're vacant, tax them. Use the money to build dense housing in the places where people do want to live. If the place is too run-down to be occupied, the owner can tear it down and do something else with it.

[–] [email protected] 36 points 4 days ago (15 children)

One issue with the holiday home thing, they tend to be in quite remote places where there are very few job opportunities, because that's where people go on holiday.

[–] [email protected] 39 points 4 days ago (5 children)

If you can afford a second home, you can afford to pay a bit more tax on it to benefit the public good.

This part applies. It's not about directly getting a house for the homeless in this case, it's the fact that they can CLEARLY afford to pay more tax.

[–] [email protected] 18 points 4 days ago (5 children)

My extended family in Michigan keeps a hunting cabin that they split costs between 5 people on and can still barely make the mortage... Is that clearly able to afford more taxes?

[–] [email protected] 40 points 4 days ago (13 children)

I'd sacrifice your family's hunting cabin if it helps house more people. Find a sixth person or something.

It's an edge case that shouldn't hold up societal progress.

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[–] [email protected] 22 points 4 days ago* (last edited 4 days ago) (7 children)

Not really, but it sounds like your family should rather sell that cabin and spend their money on more important things.

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[–] [email protected] 3 points 3 days ago (1 children)

my solution is to destroy all houses, then NO ONE gets a home!!

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[–] [email protected] 54 points 4 days ago (3 children)

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.

[–] [email protected] 14 points 4 days ago (3 children)

Inflation is a thing that exists. Saying that someone is bad simply because they want to update the value of their property is dumb. Also, let's say granny wants to downisze. Should she sell her home for a value way below market and then be unable to buy a smaller home for herself?

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[–] [email protected] 22 points 4 days ago* (last edited 4 days ago) (2 children)

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.

[–] [email protected] 19 points 4 days ago

Almost bit the bait lol

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[–] [email protected] 8 points 4 days ago

By remaining invisible, the billionaires avoid having the finger pointed at them. We only point at each other.

[–] [email protected] 17 points 4 days ago (4 children)

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.

[–] [email protected] 23 points 4 days ago* (last edited 4 days ago) (4 children)

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.

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[–] [email protected] 83 points 4 days ago (1 children)

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.

[–] [email protected] 20 points 4 days ago (2 children)
[–] [email protected] 11 points 3 days ago

damnit woman thats why he keeps comin back, you keep givin him treefitty!

[–] [email protected] 13 points 4 days ago

She gave him a dollar

[–] [email protected] 49 points 4 days ago (1 children)

If you were any smarter you wpuld inherit the house from your grandma and flip it yourself for big gains

[–] [email protected] 31 points 4 days ago* (last edited 4 days ago) (1 children)

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

[–] [email protected] 21 points 4 days ago* (last edited 4 days ago) (11 children)

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.

[–] [email protected] 6 points 3 days ago (2 children)

but if theres enough debt the other assets go towards that rather than the inheritors.

[–] [email protected] 6 points 3 days ago* (last edited 3 days ago) (32 children)

That’s literally what I just said. Debts are paid out of the estate. The estate assets will always be used to pay off remaining debts before the inheritors get anything.

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[–] [email protected] 2 points 3 days ago

Smart and rich people get around inheritance taxes by systematically giving wealth to their families over time while they are still living.

[–] [email protected] 3 points 3 days ago (2 children)

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.

[–] [email protected] 6 points 3 days ago* (last edited 3 days 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.

[–] [email protected] 3 points 3 days ago

All taxation is theft.

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

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[–] [email protected] 8 points 3 days ago (1 children)

Yeah let's blame grondma it's absolutely her fault we had inflation and rising house prices in the last 50 years. She did it all by herself!

[–] [email protected] 14 points 3 days ago (3 children)

This inter-generational strife nonsense is the greatest deflection the oligarchs have come up with to make people forget who their real enemies are.

[–] [email protected] 2 points 3 days ago

Political polarization was the greatest deflection.

[–] [email protected] 2 points 3 days ago (2 children)

Some might suggest that most of the oligarchs are the boomers in these memes.

[–] [email protected] 2 points 3 days ago* (last edited 3 days ago) (2 children)

I mean... All the oligarchs I can name are boomers or gen X.

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[–] [email protected] 14 points 4 days ago (1 children)

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

[–] [email protected] 11 points 4 days ago (7 children)

The fuck is going on where you live?

My family and I bought a 250m² house for less than 50k. (2yrs ago)

[–] [email protected] 9 points 4 days ago

Meanwhile, in the suburbs of DC/Baltimore you have 96m² for $414k: Local Listing

[–] [email protected] 9 points 4 days ago (3 children)

Sounds like the SF Bay Area, SoCal, NY, GTA, VAN, or London.

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