almost as if it isn't avocado toast that's making millennials poor
Just need to hustle more
/s
The elderly are becoming homeless at a rate not seen since the Great Depression
341–350 of 1001 posts
Re: The elderly are becoming homeless at a rate not seen since the Great Depression
#342Earlier quoted context omitted.
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…
This is a bizarre idea contrary to how many housing affordability crisis were actually solved in the past. Would SF's housing prices go down if you were to build 10,000 new units? You're right, probably not that much. Would SF's housing prices go down if you were to build 1M new units? No doubt. Shenzhen grew from 100,000 people in the 1980s to 13M now with no housing affordability crisis...by building. The whole pea…
This idea among residents of San Francisco that all 8 billion of us humans want to live there and it’s impossible to build enough housing to satiate demand never ceases to crack me up.
Re: The elderly are becoming homeless at a rate not seen since the Great Depression
#343Earlier quoted context omitted.
We, IMO, need a progressive tax system for every home controlled by an entity that isn't their primary residence. You don't want to hurt small individuals trying to build up wealth, but we need to stop allowing large corporations to turn basic necessities into investment vehicles.
I don’t think houses should be used by anybody to build up wealth.
As a blanket statement, I don't think that makes much sense. You'd be opposed to someone working hard on their own house over the years to improve it so that they can sell it when they're older?
Re: The elderly are becoming homeless at a rate not seen since the Great Depression
#344Part of the problem is government regulation. In some places, it's almost impossible to build new houses due to regulations. Some portion of the population wants to see house prices continue to increase and they will vote for politicians who will implement policies which will support that agenda. Of course this happens at the expense of another, also large portion of the population who do not own a house and have to…
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…
I think you misunderstood. I think the comment you are responding to is about NIMBY-ism.
Re: The elderly are becoming homeless at a rate not seen since the Great Depression
#345There 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.
Yes, this is why the "it's immigration" comments are incredibly naive. Immigration is trying to prop up this system.
Immigration also makes housing scarcer, and housing is the biggest CoL problem.
Re: The elderly are becoming homeless at a rate not seen since the Great Depression
#346Earlier quoted context omitted.
Did anyone force all those students to take student loans?
Their parents, society, etc. I won't convince you because you've got your anecdotes. Though I'd say if a public school counselor, parents and teachers all tell a 17 year old it's "college or bust", it's laughable to argue "ah, those teenagers should have been rational, informed consumers of professional training and eschewed the advice of every trusted adult in their life".
It does not take professional training to see the price tag of a student loan and to question if one can reasonably pay it off in the future. Certainly, someone equipped with the skills needed to be accepted into a college that costs so much should be able to do the math required on that calculation.
Re: The elderly are becoming homeless at a rate not seen since the Great Depression
#347Part of the problem is government regulation. In some places, it's almost impossible to build new houses due to regulations. Some portion of the population wants to see house prices continue to increase and they will vote for politicians who will implement policies which will support that agenda. Of course this happens at the expense of another, also large portion of the population who do not own a house and have to…
Among my friends seeking to buy houses, the greater problem is the ability of large companies to buy up whatever is on the market, which they then immediately turn into a rental. It’s nearly impossible to compete with a company who will pay $50k over asking price, in cash, for the house you’re trying to get. Comparatively, immigrants don’t have the purchasing power to compete, so saying they’re the problem is a weird…
> it seems it would help more if the government would step in to disallow large leasing companies buying up giant swathes of the housing stock
My instinct is to disagree. That could create other problems and it's not a given that it would help prices. Encouraging growth by changing zoning seems preferable. We know that it works, since Japan has been doing it forever.
Re: The elderly are becoming homeless at a rate not seen since the Great Depression
#348Earlier quoted context omitted.
> her landlord suddenly raised her rent by $500. That shouldn't be legal. GP: "Government regulation is preventing the construction of more housing" You: "So true. For example, we need more regulation that make housing a legally encumbered asset with uniquely constrained and inflexible financial properties" What is your thought process here? Do you think this kind of thing will encourage the provision of more houses?…
I think your argument is correct with the assumption that houses should be considered investment. I don't think they should, but realise that this statement is only articulated in principle rather than in practical and pragmatic terms. On the other hand, the practical and pragmatic treatment of houses as investment property has driven us to the precipice of one of the greatest potential societal crises at a broadly g…
The amusingly sad thing is that they aren't even a great investment, all things considered, because over large enough areas and long enough times, they basically keep pace with inflation.
That has been obscured and hidden from the public consciousness, but it's there (and it basically has to be, as if it's not, eventually you get insanity where nobody can afford to live in anything - some say we're close to this but it cannot continue, just like population simply cannot literally increasing forever or eventually the entire mass of the Earth would be made of people.)
Too many landlords have been buying long and selling short, and losing money doing so but it's hidden by (sometimes) apparent appreciation - that train is rapidly decelerating and will be at the station soon, as the low interest rates have dried on up.
Re: The elderly are becoming homeless at a rate not seen since the Great Depression
#349Significantly increasing social security payments would go a long way.
Oh god please no. It’s already on the way to being insolvent
Re: The elderly are becoming homeless at a rate not seen since the Great Depression
#350Earlier quoted context omitted.
Education has traditionally been a primary method for upward economic mobility. Once student loans became a thing, colleges jacked up tuition to put it out of reach of anyone but the super wealthy unless student loans were used.
But no one forced those people to take on those loans.
Not explicitly but the choice is “stay in your economic class or invest in the only thing reliably proven to improve your future”.