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Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

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Re: Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

#11
post #7

Homes are unaffordable to most. Even if you sell your house for a million dollar where will You move to? As far jobs are concerned the job market is completely fucked up. Their is oversupply and there are no wage increase. It does not take a genius to understand why there is no mobility.

The job market is scary. I can afford a better house right now but am scared shitless I won’t be able to keep my income up. So we stay in our small old house for now, maybe forever.

Re: Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

#12

There aren’t enough homes or jobs. What do?

We're heading further into a reality where there just aren't enough jobs. All the money has been hoovered into the stock market. There's just not enough floating around to pay people, it's all going into LLM electricity or graphics cards. We should be living in a time of ease, where the whole planet is sustained with all of us only working a few hours a week. Instead most people are fighting for scraps barely able to…

Money doesn't sit in the stock market. Value, sure, but the money goes right back into the economy.

Re: Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

#13

There aren’t enough homes or jobs. What do?

We're heading further into a reality where there just aren't enough jobs. All the money has been hoovered into the stock market. There's just not enough floating around to pay people, it's all going into LLM electricity or graphics cards. We should be living in a time of ease, where the whole planet is sustained with all of us only working a few hours a week. Instead most people are fighting for scraps barely able to…

Wouldn't it be nice if individuals decided at the start of their career how much money was "enough" for them, and made a pledge to retire once they hit that number. Then society can give them an "I won!" hat or gold card or something, and the next guy can take the role. In this way all enterprises become an engine pulling new hires off the street, and emitting independently wealthy people to go and enjoy their lives.

But instead we have a tiny minority of people who control more and more capital. This has well-known and terrible consequences for society from almost every angle. What I don't understand is why the .1% don't want to step aside and let someone else have a turn. It's funny that our bodies have stomachs, so we know when we've eaten "enough". But money doesn't get stored in the body.

Re: Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

#14
post #11
post #7

Homes are unaffordable to most. Even if you sell your house for a million dollar where will You move to? As far jobs are concerned the job market is completely fucked up. Their is oversupply and there are no wage increase. It does not take a genius to understand why there is no mobility.

The job market is scary. I can afford a better house right now but am scared shitless I won’t be able to keep my income up. So we stay in our small old house for now, maybe forever.

Yes - looking around at the volume of people on the job market after years of layoffs, it is a very humbling experience thinking that if I do end up unemployed, I will have a hard time orchestrating my personal soft landing.

Re: Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

#15
post #8
post #7

Homes are unaffordable to most. Even if you sell your house for a million dollar where will You move to? As far jobs are concerned the job market is completely fucked up. Their is oversupply and there are no wage increase. It does not take a genius to understand why there is no mobility.

Because you've all treated housing as a financial instrument, instead of what it should be: safety for your family.

I look at it as an expense. If you can sell and make a few bucks, great. But I doubt any new buyers will make out.

I expect in the not to distant future, the only way someone will get to own a house is to inherent one.

Re: Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

#17
post #15
post #8

Earlier quoted context omitted.

Because you've all treated housing as a financial instrument, instead of what it should be: safety for your family.

I look at it as an expense. If you can sell and make a few bucks, great. But I doubt any new buyers will make out. I expect in the not to distant future, the only way someone will get to own a house is to inherent one.

[dead]

Re: Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

#18
post #8
post #7

Homes are unaffordable to most. Even if you sell your house for a million dollar where will You move to? As far jobs are concerned the job market is completely fucked up. Their is oversupply and there are no wage increase. It does not take a genius to understand why there is no mobility.

Because you've all treated housing as a financial instrument, instead of what it should be: safety for your family.

The market can stay irrational longer than you can stay solvent, and in a world where every home is priced this way it’s not like you could go to an alternative housing market.

Re: Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

#19
post #11
post #7

Homes are unaffordable to most. Even if you sell your house for a million dollar where will You move to? As far jobs are concerned the job market is completely fucked up. Their is oversupply and there are no wage increase. It does not take a genius to understand why there is no mobility.

The job market is scary. I can afford a better house right now but am scared shitless I won’t be able to keep my income up. So we stay in our small old house for now, maybe forever.

[deleted]

Re: Nobody’s buying homes, nobody’s switching jobs, America’s mobility is stalling

#20
Nobody is switching jobs because if you move you likely have to switch two jobs rather than just one.

Improving mobility means that you have to make a single earner household a viable pathway again. That means bring house prices down and subsidizing childcare.

Which would cost a bunch of billionaires a couple of pennies. So it will never happen.

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