Friedberg: Universal homeownership incentives inflate prices and price out young people
“What happens when everyone owns a house? That's the only thing they own. Now you gotta get the price of the house to go up every year. Now housing is unaffordable to young people.”
Housel: Buying a Home Due to Market FOMO Is Universally Terrible
“You should not do it because you have, even if you don't define it like this in your head, because you have some level of FOMO of man, housing prices have gone up a lot and like, ah, that house looks so nice and things would be, and we can't really afford it. …”
Andreessen: Young workers in major economic hubs will never afford homes
“Basically like if you want to live and work as a young person in a place where you're going to have access to top flight economic opportunity and all these growth industries and you want to work in tech or you want to work in design or entertainment or, you kn…”
Banister: Promoting homeownership is flawed as it pushes buyers into debt
“Selling the American dream of home ownership I actually think is flawed. In many ways. We're putting people into debt, and for things they can't afford, and they get screwed”
Tenev: Capital markets access should replace homeownership as the American dream
“I wrote a piece one time about how investing and access to capital markets is like the, should be the real American dream. Everyone should be doing it like they were talking about home ownership decades prior.”
Rubenstein calls homeownership the single biggest unlock to wealth in America
“I mean, homeownership is the biggest unlock to wealth in our country. It's one of the most important things in communities in our country that we have more people who own homes.”
Dharmesh Shah: The psychic toll of homeownership outweighs the financial benefits.
“Just the decrease in maintenance and wear and tear on one's psyche and soul that ownership, you know, bestows upon you is just not worth it.”
Hefets: A $10,000 home price hike disqualifies one million families from buying
“A 10,000 dollar increase in home prices means one million fewer families can own a home.”
Shenoy: Renting over buying is about geographic flexibility, not delayed gratification
“I haven't not bought a house because of delayed gratification saying, I'll save now and buy a house later. I have not bought a house because I don't know whether this city is where I want to live forever.”
Chamath: Homeownership drives 60 to 70 percent of average American wealth creation
“The other really terrible thing about home ownership is that it is where the preponderance of wealth creation for average Americans comes from. And so when you lock people out of home ownership, you're essentially ripping away. 60 to 70% of how they're ever go…”
Dodson: Homeownership provides essential leverage for launching businesses out of poverty
“The barriers to creating businesses are enormous. And I thought businesses are one of the ways people can break the cycle of poverty. So is home ownership. And there's a big tie between the two. So if you can create a home or buy a home, you can leverage that …”
Hefetz: Homeownership is a forced savings asset you can live inside
“From the customer's perspective, it's also really, really helpful for them. It's a forced savings mechanism in an appreciating asset. And by the way, you can live inside this asset. No one lives inside the S&P 500.”
Srini: Homeownership is defined by profit rights, customization, and price stability
“If you really think about home ownership, the fundamental rights are ability to profit from sale. Right? When you own something, you can profit from sale. Ability to customize it, reshape it, remodel it, make it your own. If I gave you an iPhone and said, like…”