Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

The elderly are becoming homeless at a rate not seen since the Great Depression

moneywise.com

Post reply on HN
Print view View original

101–110 of 1001 posts

Re: The elderly are becoming homeless at a rate not seen since the Great Depression

#101

Post by somewhereoutth »

throwawaaarrgh wrote: post #63
somewhereoutth wrote: post #35

Earlier quoted context omitted.

The issue is not supply and demand for houses - there are plenty enough to go around (though often in the wrong place). The issue is that a sizeable underclass is being created that have no wealth, not least because what wealth they did have has been funnelled to the very wealthy. For example, medical bills. For example student loans. For example zero interest rates with zero wage inflation meaning accommodation cost…

Most Metro areas do not have enough affordable housing. It's well established that local governments cannot build enough new affordable housing, partly because any contractor that bids goes way over the value of a private housing venture. The idea that there's enough housing but "in the wrong place" is like saying there's plenty of jobs, they're just in third world countries and Scandinavia. The idea that the solutio…

Let's take SF as an example. If a significant number of new units were built (somehow without detracting from the character of the city), would it really lower prices much? Likely not - instead prices would dip just enough to make it viable for large numbers of high income people from outside SF to come to the city (which by massing effect may make SF even more desirable, so actually higher prices!)

Wealth taxes are not a fairly tale, though of course they are a nightmare for the excessively wealthy! In the UK we used death duties to finish off the aristocracy.

Re: The elderly are becoming homeless at a rate not seen since the Great Depression

#102

Post by Grimburger »

fnimick wrote: post #60
Ensorceled wrote: post #50

Earlier quoted context omitted.

This is the standard conservative "big government" and "young people today don't want to work" rant. > The problem is government regulation. In some places, it's almost impossible to build new houses due to regulations. Regulation yes, but it's not the lack of building; we're building like crazy all over North America. Many new homes are "lost" and become second or third homes for the wealthy or airbnb rentals. Regul…

Agreed. We're in this mess because of unregulated capitalism, but sure, removing even more regulations will definitely solve it! (for the people who are fortunate enough to "have a venture" goes unsaid - the rest will be left poor, and they deserve it, for they weren't good / useful enough) There is absolutely an argument to be made here about regulatory capture with respect to zoning laws, parking minimums, etc maki…

> because of unregulated capitalism

Where on Earth with a housing crisis is "unregulated capitalism"? It can take years simply to get development approval in Australia. If it's anything more than a single family dwelling get ready for a long lengthy process with hundreds of submissions, some even from suburbs over demanding it doesn't get built.

The entire system has been captured by vested interests who know how to drive their own unproductive asset prices up at the expense of society.

Re: The elderly are becoming homeless at a rate not seen since the Great Depression

#104

Post by Ensorceled »

api wrote: post #69
Ensorceled wrote: post #50

Earlier quoted context omitted.

This is the standard conservative "big government" and "young people today don't want to work" rant. > The problem is government regulation. In some places, it's almost impossible to build new houses due to regulations. Regulation yes, but it's not the lack of building; we're building like crazy all over North America. Many new homes are "lost" and become second or third homes for the wealthy or airbnb rentals. Regul…

> Regulations are not building for high capacity, preferring to sprawl and build monster homes that house few, wealthier people. So you’re saying regulations are blocking new home construction. Got it. What you describe is exactly what people mean when they say you “can’t build housing.” In reality you kind of can but only a few homes and only at the very high end. You can only build at the high end because of densit…

> > Regulations are not building for high capacity, preferring to sprawl and build monster homes that house few, wealthier people.

> So you’re saying regulations are blocking new home construction. Got it.

Oh come on, new home construction is doing just fine ... but the homes are 5600 sq ft, $2+ million and 30-40 minute drive from city centre. And it's not regulation requiring it, developers prefer to build condos and monster homes because the ROI is much higher. Regulation is allowing it.

> What you describe is exactly what people mean when they say you “can’t build housing.” In reality you kind of can but only a few homes and only at the very high end.

New housing starts in the US[1] have climbed steadily for the past 10 years until inflation and interest rates in 2022 caused it to drop.

What you are saying is not happening. Maybe some housing development you wanted to happen got blocked, but we ARE building new housing and when we do stop ... it's not regulation that stopped it.

[1] https://tradingeconomics.com/united-states/housing-starts

Re: The elderly are becoming homeless at a rate not seen since the Great Depression

#105

Post by fnimick »

api wrote: post #69
Ensorceled wrote: post #50

Earlier quoted context omitted.

This is the standard conservative "big government" and "young people today don't want to work" rant. > The problem is government regulation. In some places, it's almost impossible to build new houses due to regulations. Regulation yes, but it's not the lack of building; we're building like crazy all over North America. Many new homes are "lost" and become second or third homes for the wealthy or airbnb rentals. Regul…

> Regulations are not building for high capacity, preferring to sprawl and build monster homes that house few, wealthier people. So you’re saying regulations are blocking new home construction. Got it. What you describe is exactly what people mean when they say you “can’t build housing.” In reality you kind of can but only a few homes and only at the very high end. You can only build at the high end because of densit…

Regulatory capture would be a better description.

The point is, you can be frustrated about zoning laws being abused for protectionism by people who want to increase the value of their asset by limiting what can be done by their neighbors, and not immediately go off and claim the actual problem is that people are freeloading off the government and that regulation is keeping the "few people" who want to work from rising to the top.

Re: The elderly are becoming homeless at a rate not seen since the Great Depression

#107

Post by pizzafeelsright »

mensetmanusman wrote: post #40

There are five workers supporting every retiree, and this is still happening. If you are approaching 40, there will be about two workers supporting you when you retire. I’m thinking this is the start of something much bigger.

Here I am one worker supporting three. I am not retiring.

Re: The elderly are becoming homeless at a rate not seen since the Great Depression

#108

Post by fnimick »

Ensorceled wrote: post #104
api wrote: post #69

Earlier quoted context omitted.

> Regulations are not building for high capacity, preferring to sprawl and build monster homes that house few, wealthier people. So you’re saying regulations are blocking new home construction. Got it. What you describe is exactly what people mean when they say you “can’t build housing.” In reality you kind of can but only a few homes and only at the very high end. You can only build at the high end because of densit…

> > Regulations are not building for high capacity, preferring to sprawl and build monster homes that house few, wealthier people. > So you’re saying regulations are blocking new home construction. Got it. Oh come on, new home construction is doing just fine ... but the homes are 5600 sq ft, $2+ million and 30-40 minute drive from city centre. And it's not regulation requiring it , developers prefer to build condos a…

Actually I will disagree, regulations are very much blocking development of the type of housing that is needed, at least in my experience.

Whenever a dense block of housing is proposed, people abuse zoning regulations here to shut it down. They add on tons of extra costs (mandatory parking etc) and then complain about how much the houses cost.

Go look at your city and see if it's actually legal to build a new mid rise apartment in the city center. I'm guessing, if it's anything like every city I've ever lived in, it's not.

Re: The elderly are becoming homeless at a rate not seen since the Great Depression

#109

Post by sokoloff »

somewhereoutth wrote: post #101
throwawaaarrgh wrote: post #63

Earlier quoted context omitted.

Most Metro areas do not have enough affordable housing. It's well established that local governments cannot build enough new affordable housing, partly because any contractor that bids goes way over the value of a private housing venture. The idea that there's enough housing but "in the wrong place" is like saying there's plenty of jobs, they're just in third world countries and Scandinavia. The idea that the solutio…

Let's take SF as an example. If a significant number of new units were built (somehow without detracting from the character of the city), would it really lower prices much? Likely not - instead prices would dip just enough to make it viable for large numbers of high income people from outside SF to come to the city (which by massing effect may make SF even more desirable, so actually higher prices!) Wealth taxes are…

If it works temporarily, but gets consumed by induced demand, then do it again. And then again. And then again.

This is a good thing. If SF is so great, many more people will be able to go there.

Re: The elderly are becoming homeless at a rate not seen since the Great Depression

#110

Post by zo1 »

fnimick wrote: post #60
Ensorceled wrote: post #50

Earlier quoted context omitted.

This is the standard conservative "big government" and "young people today don't want to work" rant. > The problem is government regulation. In some places, it's almost impossible to build new houses due to regulations. Regulation yes, but it's not the lack of building; we're building like crazy all over North America. Many new homes are "lost" and become second or third homes for the wealthy or airbnb rentals. Regul…

Agreed. We're in this mess because of unregulated capitalism, but sure, removing even more regulations will definitely solve it! (for the people who are fortunate enough to "have a venture" goes unsaid - the rest will be left poor, and they deserve it, for they weren't good / useful enough) There is absolutely an argument to be made here about regulatory capture with respect to zoning laws, parking minimums, etc maki…

[flagged]
Post reply on HN