Earlier quoted context omitted.
Wait....did you just use a silly assumption, not as an example that silly assumptions are possible, but as proof that his assumption was silly?
That's silly. :-)
And now to something completely different.
The Suburb of the Future, Almost Here
131–136 of 136 posts
Re: The Suburb of the Future, Almost Here
#132Earlier quoted context omitted.
1/3 is the MAX allowed by any sane landlord / bank (though I think some go as high as 50% for renting at least). If your household income is 60k gross, your net should be north of 50k (figure at least 2 adults, maybe some kids, your tax burden will be lowish). 10% of 50k gives you $416 a month. Where I live (Indiana), that can get you a mortgage payment on a house that cost about 110k (say 15-20k down). That is total…
3br with a yard will probably cost >€500k even in the remote suburbs around here. I think your case is particularly low priced for a city with a reasonable amount of jobs.
Well this is the US :) You posted median US income. The median family in the US lives in a small town, perhaps 50k-250k people. Most of them have similarly affordable towns. We are not suburbs of anything.. 90 minute drive from Chicago, but far enough to not really count as a burb.
Re: The Suburb of the Future, Almost Here
#133Earlier quoted context omitted.
where do you live with mass transit and cheap housing? Also Chicago?
Salt Lake. Free bus + train in city center; yearly ticket outside of that. Every big city has mass transit to at some degree. IDK what your specific requirements are though.
SLC is on my and my partner's list of places to live once we leave Los Angeles.
Are the inversions in SLC as bad as I've heard? How would life be for an asthmatic there?
Re: The Suburb of the Future, Almost Here
#134Earlier quoted context omitted.
Why would you think that? Are people who buy million dollar shacks in SF forgoing their deduction? It's hard to imagine.
It's a subsidy for all mortgages. More people would rent if not for this subsidy. Also any roady that connect your suburb to anywhere are heavily subsidized, to the tune of greater than 60%. If your suburb build its sewers with bonds, they too end up receiving various forms of subsidy. It would be truly unique in the whole of the US if your community's property taxes covered the full cost of local services and weren'…
>t's a subsidy for all mortgages. More people would rent if not for this subsidy.
Well, okay. You still haven't made the case it disproportionately benefits the suburbs. People who buy houses in the city pay a lot more money, and presumably get to write off a lot more interest.
>Also any roady that connect your suburb to anywhere are heavily subsidized, to the tune of greater than 60%.
So what you're saying is cities benefit enormously from a subsidy that allows companies to employ people who don't work in the city and import products from other places?
>If your suburb build its sewers with bonds, they too end up receiving various forms of subsidy.
Oh? Do you have some evidence this is true?
>It would be truly unique in the whole of the US if your community's property taxes covered the full cost of local services and weren't partially covered from the state's general fund.
Well, sure, but we pay state taxes. I would expect some of that money to come back.
Re: The Suburb of the Future, Almost Here
#135Its fun to dream about the future. But, a dream is all it'll ever be. how does anyone expect to build this stuff, when we can't even build regular housing, anywhere near the amount that is required to match demand. The only way, I can see this being built, is if new cities are created. These cities need to be populated by employers first: once that's there, most people that works there will find housing there too. I…
And yet, the population in many western countries is cratering. Right now there is a housing crunch in some places, but once all the baby boomers die then there should be plenty of houses for the smaller number of children being born. And as a bonus the housing prices should tank since the supply should far outstrip the demand.
I wish that were true. Source?
It seems, US population is not cratering. According to this population projection, it will continue to increase all the way to 2060 and beyond: https://www2.gwu.edu/~forcpgm/Ortman.pdf .
Re: The Suburb of the Future, Almost Here
#136Earlier quoted context omitted.
3br with a yard will probably cost >€500k even in the remote suburbs around here. I think your case is particularly low priced for a city with a reasonable amount of jobs.
Well this is the US :) You posted median US income. The median family in the US lives in a small town, perhaps 50k-250k people. Most of them have similarly affordable towns. We are not suburbs of anything.. 90 minute drive from Chicago, but far enough to not really count as a burb.
I quoted US figures cause in other countries people generally earn less money (in Germany I think it converts to something like $50k/year).
But you're right that even here once you get far enough to not be reasonably commutable to one of the big cities prices plummet, just not sure which situation better represent the median family.
You can find rural/urban divides online but it's not quite the same if you consider people living in smaller towns are still being counted as urban...The biggest divide is probably between the super in-demand major cities (and their peripheries) vs everyone else.
This is further exaggerated here as Germany has the lowest birth rates in the world and one of the highest inbound immigration rates - which means the big cities are growing (as that's where immigrants are going) and the rest are deflating.