The following is just an opinion:

In this recent Business Insider article, millennial real estate agent David Ravitz presented his case against long-term homeownership. It’s crucial, though, to critically examine the underlying messages and implications of this piece. In what may seem like an innocuous lifestyle feature on the surface, Business Insider has, perhaps unwittingly, amplified the voice of the wealthy, casting a shadow over the economic realities faced by the average American.

Ravitz’s story is not your usual rags-to-riches tale. The Boca Raton-based agent is advocating for a model where one simply purchases a $960,000 home, renovates it for an additional $500,000, and then flips it on the market for an exorbitant profit. Although it may seem like a savvy investment strategy, it’s not one that an average American can afford to take up. It is an insight into the mindset of a certain privileged class and how it perceives the path to wealth.

By giving this narrative a platform, Business Insider seems to be operating less as a news outlet and more as a propaganda mouthpiece for the well-off. It is a reflection of the widening income gap, a glaring issue that many in positions of power and influence continue to overlook. It also hints at a disturbing trend of media outlets perpetuating the narratives of the rich and powerful while underrepresenting the struggles of those in less privileged circumstances.

In a climate where the fight for economic equity, equality, and justice is more urgent than ever, this article seems tone-deaf. Instead of providing a balanced view of the housing market or economic realities, it presents a skewed picture where success is just a few home renovations away. However, the reality for many Americans is a struggle to keep a roof over their heads, let alone purchase a near-million-dollar property.

The key takeaway here is that articles such as this one do more than just highlight a unique approach to wealth accumulation. They showcase the thinking of a class of people who view financial success as a game in which the ability to participate is inherently unequal. For those of us seeking to challenge this status quo, understanding this mindset is crucial. It’s a clear illustration of the political and economic opponent we face in our quest for a more equitable and just society.

The portrayal of this exclusive path to wealth accumulation as the ‘new American dream’ is a stark reminder that the struggle for fairness and equality is not just about economics, but also about controlling the narrative. It’s important that media outlets remember their responsibility to represent all demographics and not just those who can afford $960,000 starter homes.

As an aside the kitchen seems a testament to the color white… Ah yes, the color white, the epitome of purity, innocence, and everything good in the world, right? So naturally, nothing quite says “I’ve reached peak good taste and cleanliness” like transforming your average, everyday kitchen into a blinding winter wonderland of the brightest, most painfully white marble you’ve ever laid eyes on. Because who doesn’t want to slice tomatoes on a countertop that looks like it was chiseled from a polar bear’s dreams? That sparkling surface, when hit by the gentlest ray of sunlight, won’t just light up the room - it’ll practically send SOS signals to space. Oh, the glory of dining in a place that’s so sterile, it makes you question whether it’s a kitchen or an operating room. Nothing quite like the veins of that frozen-marble look to remind you of a tranquil river… or was it the varicose veins on the legs of the Statue of David? But, hey, that’s art and purity for you. Truly, a testament to the eternal human quest for cleanliness, brightness, and subtly blinding your guests with your immaculate taste.

  •  MyNameIsFred   ( @fred@beehaw.org ) 
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    911 months ago

    The housing market, especially in Florida and ESPECIALLY in south florida is a giant bubble right now.

    This has happened before. The early 2000’s saw a similar bubble that finally popped ~2008. In the early 2000’s I saw a ton of people ditching their careers to get their Real Estate license. Didnt pan out well for them and its not gonna pan out for this guy.

    This bubble is a bit different in that its not so much fueled by mortgage backed securities and pushes to get people on variable rate mortgages to they can be pumped and dumped into credit default swaps. This one is much more, at least in florida, tied to folks trying to escape regulations and lockdown from COVID up north and coming down to florida where properties are historically cheaper per sq ft and acre and buying up real estate in cash. But still, its going to pop. Many locals cant afford to buy now, or even rent in some cases as many arent even buying a primary residence here just vacation/airbnb homes. But its still a bubble that will see some major regressions. Especially if the urban sprawl problem gets taken head on (which I dont see happening anytime soon givent he current political climate).

    • I laughed soooo hard when he said they plan on selling and then repeating the process every 2 years. How on earth is he a realtor but also thinks that 250k-500k gains on property over the course of 2 years is normal.

      The housing market is in a huge bubble right now, my home is up ~50k since I bought in late 21 without me doing a damn thing.

      I really wanna follow up with the guy in 2 years when he’s complaining he’s stuck with a 1million dollar how financed at 6% and he’s 400k underwater and he should have just stayed at his previous home probably financed at 3%.

      •  MyNameIsFred   ( @fred@beehaw.org ) 
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        211 months ago

        Also flipping houses often covers up major issues with “lipstick”, eventually i think this will make them less desirable to buyers, because if they see a house only owned for 6mo-2 years it may indicate some VERY janky bones were ignored to stick granite and hardwood in etc.

        Prior to 2008, it was RARE to make any money on a house owned under less than 5 years. If you broke even you were REALLY lucky.

        Its a terrible article and a terrible hottake. If hes 31 now, he was likely 16 when the first bubble popped. This is a sign of youthful ignorance imho.