• @aesthelete
    link
    227 days ago

    Anyone who owns a house is a millionaire.

    So we’ve got a tiny number of billionaires in charge.

    An ever dwindling number of millionaires desperately holding onto their small privilege

    I mean this simply cannot be true.

    If everyone who owns a house is a millionaire, then in order for the “number of millionaires” to be “ever dwindling” we would need not only a housing shortage, but an eroding quantity of housing or a drastic drop in home ownership rates. Neither is happening. The home ownership rate in 2024 is 65.8% according to this site: https://www.simplyinsurance.com/how-many-homeowners-in-the-us/ which puts us at a much improved rate of ownership from when the housing crash happened in 2008, when we were running somewhere in the low 60s.

    So not everyone who owns a house is a millionaire, or millionaires numbers aren’t dwindling. It simply cannot be the case that what you’re saying here is all true.