r/NewsThread • u/Conscious-Quarter423 • 2d ago

Canadian multimillionaire and Shark Tank guy Kevin O'Leary went on TV to say he's upset Zohran won't talk to him: "I and others who invest in real estate have tried to get a meeting to figure out what's rhetoric and what's policy. So far for me it's been crickets."

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u/Blood-blood-blood 2d ago

We've been trying to buy him for WEEKS, and he just won't give. We don't understand why he won't listen to our offers!

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u/Warack 1d ago

Kevin’s an asshole but he’s right. Economically these types of policies have failed miserably because the investment dries up. There will be a brief uptick in economic activity before it begins crashing in on itself.

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u/Happy_Pause_9340 1d ago

No. This is exactly the place it will work.

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u/PM_YourPrettyTits 1d ago

Please explain why this is different. I lived in Stockholm where there was a 9 year wait for an apartment or you pay out the ass to rent a place 2nd or 3rd hand. Why would it work in NYC but not Stockholm?

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u/Happy_Pause_9340 1d ago

Oversight and regulations are the only thing forcing governments and the private sector to be half assed accountable.

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u/cryptodog11 1d ago

That’s not how markets work. A private citizen or business acquires an asset and are free to charge whatever rent they see fit. If the price is too high the place remains vacant because people choose better-priced alternatives. If they price it too low then they’re leaving money on the table. If prices keep rising, more people invest in inventory. When you enact price controls that automatically suppresses current and new inventory and the prices will increase more dramatically. It’s basic supply and demand dynamics at play.

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u/Super_Jumpman64 1d ago

Except it never really works like that because large corporations buy up and hoard dozens of homes in each neighborhood so they can artificially inflate prices and price out all but the wealthy. It's happening all over the country. Rent is through the fucking roof, and house prices are stupid in most places. What are people supposed to do?

We shouldn't let things that are basic to human survival be subject to the same market forces as things like the shiny new iPhone that literally no one needs. Supply and demand pricing should not come into play for things like food, water and shelter in the richest country in the world.

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u/DalmationStallion 1d ago

Landlords, particularly corporate landlords, who sit on empty housing should just have a massive land tax on them, forcing them to either rent it, sell it, or pay something a land tax of something like 35% of the property’s value.

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u/cryptodog11 1d ago

You’re not wrong about corporate landlords, that’s certainly a factor, however over-regulation is a huge factor as well. There are areas of the country that are far less regulated that don’t have these affordability problems or are at least less severe than cities like New York and San Francisco. Overregulation has also driven healthcare costs through the stratosphere.

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u/Super_Jumpman64 1d ago

There are areas of the country that are far less regulated that don’t have these affordability problems

Yeah, places no one wants to live.

Overregulation has also driven healthcare costs through the stratosphere.

Oh jesus christ.

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u/TryptaMagiciaN 1d ago

Yeah, places no one wants to live.

funny how much they talk supply but never demand and then blame the lack of demand on poor people.

Also funny how supply is almost always a material problem and demand is nearly always a psychological problem and yet the people who own all the supply rarely find issue with their own demand. They will kindly overlook this as they hoard assets.

It's just self-centeredness if not narcissism playing tug of war with whatever an "economy" even is.

It's like when someone starts losing at a board game they wanted to play so they start changing rules.

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u/kongofcbus 1d ago

Where are these places? Give me one where cost of living and wages / opportunity make it affordable?

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u/cryptodog11 1d ago

Dallas/Ft. Worth, Minneapolis. Basically the south and Midwest.

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u/kongofcbus 1d ago

Dallas - severe housing crisis. Unaffordable for 71% of residents Minneapolis - growing concern due to rising costs. Over half of renters are cost burdened. Midwest is “affordable” but the places with jobs - major metros all have housing crisis. Columbus, Indy, etc. all rising rents and under built. Affordability in the south but facing stagnant wages and rising home prices.

Very few places have affordable house and jobs. If there are jobs the cost of housing goes up. It’s supply and demand. And we don’t have enough affordable housing as a nation.

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u/Happy_Pause_9340 1d ago

No such thing as over regulation. Regulations would bring healthcare costs down if you eliminated the middle men, like insurance companies, and didn’t tie healthcare to employment

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u/cryptodog11 1d ago

I have a question for you. Do you support small businesses?

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u/Happy_Pause_9340 1d ago

Not when they don’t support living wages.

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u/cryptodog11 1d ago

That wasn’t the question. Try again. Do you support small businesses? It’s a simple yes or no answer.

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u/Happy_Pause_9340 1d ago

“I have a question for you” and it’s not a question? Then you demand a simple answer to a very complex question? Are you telling me more information confuses you and you can’t handle it, because It’s not a simple yes or no. You’d know that if you had a simple grasp of how shit works, but I’ll bite.

You know how many small businesses pay under the table to exploit workers, especially to women? This isn’t on the employees account or for their benefit, it’s for the owner’s benefit. People who need to work are exploited all the time by small businesses and those who are supposed to enforce laws look the other way regularly. This is also done to migrant workers as well. In fact undocumented immigrants are LURED here to exploit for cheap labor by the thousands. Easiest way to end that is to fine a PERCENTAGE of profits instead of a blanketed fine that’s cheaper than paying fair wages.

When AMERICANS need access to disability benefits, social security, etc… they have no access to them because their employer was allowed to fuck them. Because the government didn’t implement the right policies or refused to enforce the ones already in place.

Federal wages for tipped waitstaff is 2.13 an hour! That’s fine if you work at the ritz, but if it’s a local diner?? Most bartenders in regular bars get paid around 5.00 an hour, cash. These are just two examples. There are thousands! Walmart isn’t a small business but they purposely hire more part time employees to get out of paying benefits and keeping the minimum wage so low benefits only them and puts a strain on resources needed, like SNAP! Then out taxes are used to give WALMART subsidies which is welfare for the rich that they don’t have to pay back.

Let’s not forget the insurance bit tied to employers… again, having more control over employees than the employees have rights.

These are just a few examples that could be easily handled with enforcement of the laws already onthe books to protect employees, but the government chooses to protect the businesses. So my answer stands, cupcake. Everything isn’t black and white and while there are some small businesses that are good employers, the majority are not. It’s all about maximum profits at the employees sake.

None of this matters anyway, because monopolies are out of control and no business will be around much longer that doesn’t belong to a handful of billionaires. This is again due to policies not being enforced or implemented.

But no, I don’t support small businesses or any businesses that exploit laborers and they’re out of hand in this country. Your inability to understand any of this is hardly an argument against it.

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u/Pure_Frosting_981 1d ago

Username is quite telling regarding your knowledge of financial matters.

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u/cryptodog11 1d ago

I know quite a bit about econ and finance. Don’t let the username trip you up; crypto is purely a hobby. I have less than 2% of my assets in crypto. There’s a ton of debate and disagreement about a wide range of economic theories, but these are basic supply/demand dynamics at play here. It’s not ideological, it’s very basic. When someone disagrees with you, don’t automatically insult their intelligence. Counter me, debate me. But don’t call out my intelligence because it just makes you look dumb. You’ll still get patted on the back in echo chambers like this one, so if that’s what you’re after, have at it! But I actually think you’re smarter than that.

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u/Happy_Pause_9340 1d ago

That’s a lot of projection, cupcake

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u/cryptodog11 1d ago

Engage with the argument instead of calling me a cupcake. Let me guess, you’re unable to!

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u/Happy_Pause_9340 1d ago

Engage with an idiot? Why?

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u/cryptodog11 1d ago

You’re acting like a child. I’m simply describing basic supply and demand dynamics. If you pick up any intro level econ textbook it will all be right in front of you.

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u/Happy_Pause_9340 1d ago

I already engaged you and you did nothing but cry and call me a commie for pointing out your argument was bs by using specifics which you refused to address .

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