Earlier quoted context omitted.
Also, property taxes are famously high in Illinois.
That lowers the market price of houses.
It certainly does.
A record 242 US cities now have starter homes that cost $1M
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Re: A record 242 US cities now have starter homes that cost $1M
#102I have a theory that the housing crisis is caused by the dating crisis. Statisticians estimate that in the Netherlands we're missing 400 000 houses, while we have 1,2 million people aged 30 to 60 living alone. If two-thirds of those people married each other, the entire housing crisis would be solved overnight. And it's worth pointing out that people used to marry each other at much higher rate than they do now, so i…
Do you have a source against the smartphone claim? There was a recent NBER paper in favor of this hypothesis https://news.ycombinator.com/item?id=48444543 The GFC housing bust happened at the same time but note that the drop in fertility was most severe for teens so the phone effect predates the shortfall in units built
> the drop in fertility was most severe for teens
You mean, there are less teen parents nowadays? That would count as improvement in my books...
Re: A record 242 US cities now have starter homes that cost $1M
#103Earlier quoted context omitted.
Yes, I'm jumping to conclusions about the people who I've known since my birth.
You're right. I forgot that it's impossible for parents and children to misunderstand eachother. I should have realized it, too, because when my parents tell me something, I know what they really mean, and it's not usually what they actually said to me. So of course your parents want their house price to go up so they can pay higher taxes while surrounded by more traffic and noise. Seems so obvious now that you say i…
> So of course your parents want their house price to go up so they can pay higher taxes while surrounded by more traffic and noise. Seems so obvious now that you say it.
Good thing that my county now offers people of their age a way to abate property tax increases so that they can "stay in the home they've known for so long" or whatever the line was.
Well, good for seniors. Absolutely awful for the people my age who want to buy a home, start a family, and participate in the economy in ways that those things enable. But we don't much care about those people.
Anyways, thanks for clarifying things to me internet stranger.
Re: A record 242 US cities now have starter homes that cost $1M
#104Earlier quoted context omitted.
Do you have a source against the smartphone claim? There was a recent NBER paper in favor of this hypothesis https://news.ycombinator.com/item?id=48444543 The GFC housing bust happened at the same time but note that the drop in fertility was most severe for teens so the phone effect predates the shortfall in units built
> the drop in fertility was most severe for teens You mean, there are less teen parents nowadays? That would count as improvement in my books...
Yes. It is in mine too, I just mentioned the effect on teens since they would be oblivious to housing prices as a motivator for the fertility drop, which was OP's thesis.