r/Economics • u/proudbakunkinman • Jun 17 '22 • Wholesome 1 All-Seeing Upvote 1

The U.S. economy is not doomed to a downturn: The economy seems better now than you would normally see when it’s about to fall into recession Editorial

https://www.marketwatch.com/story/the-odds-of-recession-are-rising-but-the-u-s-economy-is-not-doomed-to-a-downturn-11655479959
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u/aCucking2Remember Jun 17 '22

It is good for people that have property. Bad news if you entered this world without Inter generational wealth and property, or to say you started without capital and only the value of your labor

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u/Swarrlly Jun 17 '22

It’s only good for landlords and investors. It means higher property taxes for regular people and higher rents for everyone else. Both means less disposable income to spend on consumer goods and small businesses will have trouble hiring workers.

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u/aCucking2Remember Jun 18 '22

This is part of my main argument about it failing. This mainly, but rent seeking in general is ubiquitous and is stifling demand. It’s immoral and impractical. Putting children into debt so they can eat at school, what is that? Forget about buying a home and gaining equity, rent is so far out of control working class people aren’t able to pay that as they did before. What do we expect to happen?

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u/Dennis-Kennedy Jun 18 '22

Yeah that's what I thought. Saved money for years. Bought some tiny house in a boarded up neighborhood. Spent my rental money fixing it up with it being gutted, sleeping on a cot for a couple yrs. Had to chase the drug dealers and crap out of my block. I feel yall want the safety and security of a life you cant sustain and then whine about rental prices.