Comments by "starventure" (@starventure) on "The REAL Reason You Can't Afford a House" video.

@sarahann530 It's an asset. They or someone else can park money there for future use. The problem is that it is an asset that requires upkeep and is subject to social pressure, which actually makes it a very unsafe way to store wealth. Did you notice that it is mostly NY and TX based companies engaging in the practice? Think hard about that and draw your own conclusions.
15
@Hoodooboiiii Where there is a will, there is a way. How much you wanna bet that quite a few of those LLCs would be zombie corps that act as tax shelters?
1
@gabetalks9275 Your friendly local county fire code enforcement officer, county tax assessor, police captain, and building code enforcement officer, would like you to come down to city hall for a peaceful and educating chat. Oh, and the local chamber of commerce and the local homeless assistance shelter would also like to speak with you as well.
1
@gumpyoldbugger6944 These company CEOs are buffoons. They think that the old rules of housing from the 1950s and 60s no longer apply. They naively believe that they can safely make money from usurious housing, but the fact is that they are always one grease fire or race riot away from financial disaster. Their greed is not the sin here, it is their stupidity. Let them try to pull this scam off, but the free market and social structure will eventually put them in the doghouse where they belong.
1