JuanCarlos
New member
You've got your wires crossed. I have as much right to that 50k in equity as the person does to their 50k in cash. Neither one of us has a right to make money or to have money in general. However we have a right to what we have obtained.
I've got my wires crossed? You have a right to your property, not its value. If your property value gets lowered, either by a changes in your neighborhood, changes in public policy, or natural disaster that's your problem. The same way that if somebody's cash depreciates due to inflation that's their problem. Or if somebody's investment in the stock market devalue that's their problem.
You have no right whatsoever to equity in your house. You have a right to the house that you've bought, no more. You don't "obtain" equity...it's a constantly changing construct comprised of the value of your house combined with how much left you owe on it. Guess what: like it or not you do not have complete control on the former. Nor does the government have any particular responsibility to protect the former for you.
So yeah, you have a right to what you've obtained. That's a house. You know, the thingy with the doors and windows and what not. Not some ethereal value that you or the real estate market have placed on that house as of today.
Either way however it is irrelevant. Whether I have a right to something is irrelevant if I actually have it. I actually have lots of equity in my home and a mass influx of immigrants could effect this. Its something that people who state that illegal immigration doesn't hurt anyone always overlook.
You don't "have" much of anything then. A lot of people "had" a bunch of equity in tech stocks back in 1999, too. They had no more right to those gains that you have to yours. Heck, just be glad that if your investment became worthless tomorrow, you'd still have a house.
I think of all the arguments I've heard against immigration, both increased legal immigration and illegal immigration, the idea that the government has some sort of obligation to protect your home equity is probably the least compelling one. I guess it's a notch above, "I just don't like brown people."