201–210 of 320 posts
Earlier quoted context omitted.
So what are remaining high-paying white collar jobs which aren't exposed to this type of foreign competition? I'm thinking lawyer, since legal skills aren't as portable across international borders?
AI’s coming for them. It’s impossible to predict what lawyering will look like in four years.
The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…
Earlier quoted context omitted.
This is a big part of the problem; in the past when you had these situations the "kids" would move to new cities where new activities were happening and build them up (hell, Silicon Valley is basically an example of this). That seems to have dried up, nobody is building massive employment centers far from the existing major cities.
There is a reverse migration of sorts back to the rust belt and Deep South (well, Georgia and Tennessee at least), and most of that migration is driven by cheaper housing and cheaper cost of living. And this is really how it should be, we will never be able to build past demand here in Seattle without Chinese construction powress, and the unions and residents would never allow for that anyways. However, Toledo has pl…
We need to be honest in calling this what it is: yes the Chinese have incredible construction capacity, but the far bigger reason why their cities are growing so fast is because: they essentially have zero personal or corporate property rights in urban zones.
Earlier quoted context omitted.
We're building like mad in our town. Have been for years. Thousands and thousands of new units. Prices ain't budging. It's odd.
Who would be building in the falling prices market? Whenever real estate prices start falling you see the building activity decreasing.
The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…
Earlier quoted context omitted.
Who would be building in the falling prices market? Whenever real estate prices start falling you see the building activity decreasing.
Prevailing wisdom is that we need to increase supply.
This is the easiest niche to pick on but I am mid career for cybersecurity. I spend a decent amount of time trying to advise people away from this career field for college. So so so so so many people are going to college for cyber not realizing when they graduate, they are in totality unemployable. Really I'm not sure how new people to tech could even enter the industry, it seems like at the lower levels the entire i…
Have a friend just graduated in cybersecurity. He’s going into the military with it.
I wonder what the impact of the rising base rate of employees with college degrees is. In 1992, a fresh college graduate had better educational attainment than 42% of the labor force. In 2016 (latest date I found numbers for), that was down to 32%. https://www.bls.gov/spotlight/2017/educational-attainment-of... That shifting distribution would somewhat reduce the advantage of a college degree against the average memb…
The story here isn't college grads as much as young people in general. We are eating our young. We stopped building new housing, which turns housing into a transfer of wealth from those who don't have it (the young) to those who have been holding it (the not young). We have eliminated entry level positions, saddled college graduates with massive amounts of debt by defunding universities, and created great security fo…
The current rate of new build construction is the highest it has been since 2007, ignoring the spike during late COVID-era zero interest rates. Also: US population is growing slower than anytime in modern history, again excluding COVID (though, a few more years and we'll be down at that level again all naturally).
[1] https://fred.stlouisfed.org/series/HOUST?utm_source=chatgpt....
[2] https://www.worldometers.info/world-population/us-population...