this post was submitted on 12 Sep 2023
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Do you have any data or research on the profile of sellers? I find that there is not a lot of research out there, so I'm curious to learn how I would explore your claim that most sellers use their proceeds to invest in small business. Selling a property just to buy a property helps the real estate sector and some banks, but I think that calling it a valuable contributor to GDP is a stretch.
What we do know is that people in older age brackets typically own their own home (78%+ for the 65+ age group). However, people in that age bracket also demonstrate a decline in consumption, spending about the same as someone in the 15-24 age bracket. This could be interpreted to show that older sellers are not freely investing the returns from their property sales back into the broader economy. Instead, they are conserving their money to last through retirement.
I didn't claim that tho. I said that moeny goes somewhere...it has to. Either back to the bank for a new mortgage or a condo.
Op made it look like that money just vanishes. Even in the case of a big bad company they're paying agents and web designers and advertising.
Google what percentage of gdp is real estate in the US... https://www.statista.com/statistics/248004/percentage-added-to-the-us-gdp-by-industry/
Oh look...it's literally the biggest contribution.
Ah yes. The imaginary GDP created from trading properties with each other.
Gdp is added to every time a real estate transaction is closed,yes. Get a clue dude ur out of ur league and simply looking stupid now.