21–30 of 127 posts
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Are you aware of the vast disparity of wealth among American families? On the order of 100k for white families, 10k for black families. Wealth being passed down family trees ensures immigrants and people who are worse off now will remain priced out. https://www.brookings.edu/articles/black-wealth-is-increasin...
Inheritance is tough. Death tax takes a good chunk.
Earlier quoted context omitted.
Are you aware of the vast disparity of wealth among American families? On the order of 100k for white families, 10k for black families. Wealth being passed down family trees ensures immigrants and people who are worse off now will remain priced out. https://www.brookings.edu/articles/black-wealth-is-increasin...
Inheritance is tough. Death tax takes a good chunk.
If you mean "the cost of end of life health care", sure, but anyone inheriting more than $12M can afford the taxes.
Well that’s what happens when you frame housing as an investment. If it didn’t outpace the market and the consumer inflation rate, it wouldn’t be a good investment. So by definition it must become unaffordable for the masses. No great way out of this mess.
"I will keep housing prices high" is a popular campaign promise.
The simple fact is homeowners are a large voting block often with the most ability to vote. Gotta keep them happy or its electoral suicide.
I thought I would have a house in my 20s. Then I thought maybe by the time I was in my 30s. Now I’m in my 30s and I have no idea when I’ll buy a house, if ever.
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Inheritance is tough. Death tax takes a good chunk.
Do you know the actual rates, what value the estate must be at for it to kick in, and in which states? Are you aware of spousal transfers and other mechanisms to reduce or avoid it? Most people get very worried about “death tax”, until they do the numbers on their own estate and realise either it mostly doesn’t apply to them or it’s marginal. In the UK this is often used as a major campaign point but the number of es…
And spousal transfers are hardly generational (most of the time).
Well that’s what happens when you frame housing as an investment. If it didn’t outpace the market and the consumer inflation rate, it wouldn’t be a good investment. So by definition it must become unaffordable for the masses. No great way out of this mess.
Mortality fixes generational issues
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From TFA, emphasis mine: “The average age of homebuyers is now 56, up from 49 in 2023 …”
The article says: “That’s a historic high, up from an average age in the low-to-mid 40s in the early 2010s.”
Those who are 56 now, were 42 in 2010.
This is not a U.S only or even a western issue. UK, EU, China, India etc all suffer from crazy real estate prices. I think the whole world is due for a big societal revamp. The old generation has concentrated too much asset wealth for the productive generation to stay productive.
Imagine being outraged your grandparents managed to actually retire in a forum that very nearly worships a couple of guys that could purchase Utah. I'd consider reviewing the holdings of the 780ish billionaires currently residing in the US before declaring a generational issue.
So I guess they play a role but even if we erased them we would still be in the same spot.
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Not Japan, fwiw. Japan has been very reasonable for real estate for decades. We're now seeing inflation in major metro areas but outside of that, it's very reasonable.
Japan also suffers from severe population decline (I think it has been declining for 15 years straight). Aka the old guard let their assets go the hard way.