The elderly are becoming homeless at a rate not seen since the Great Depression • Hacker News Board

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

#511

Post by tempsy » Mon, Sep 25, 2023, 3:33 PM UTC

escapedmoose wrote: post #192

jongjong wrote: post #16

Part 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…

Investors cannot magically make rentals profitable at these prices and interest rates.

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

#512

Post by ebiester » Mon, Sep 25, 2023, 3:34 PM UTC

c_crank wrote: post #490

ebiester wrote: post #480

Earlier quoted context omitted.

Certainly. I see them around here too. They make 12-15 dollars an hour. That's 2400 dollars a month. That means at 30% of income (rental maximum in most areas), they can afford $720. (This assumes that they can work 40 hours. Their hours are often variable because they need two jobs - places mostly hire part time to avoid needing to give out health care.) There are only a handful of apartments in the area that will r…

The people I know making lower wages typically rent or live in places with not such a high expense. Their apartments are not as upscale as others are, but they are certainly livable.

I live in one of those places. This is a medium cost of living area. That's how much rent has gone up in the past decade in most places that they've raised the de facto minimum wage to 11 bucks, and I wasn't even counting those who live at the real edges. I'm talking about people who are doing reasonably but not excessively well for themselves with high school degrees.

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

#513

Post by rtkwe » Mon, Sep 25, 2023, 3:35 PM UTC

zb1plus wrote: post #134

In places like the bay area with a housing crisis and limited space to expand, the state should seize office buildings (remote work is the future and would help alleviate the shortage while new housing is developed) by eminent domain and set up a scheme like Singapore's HDB system [1] to develop affordable housing. 1: https://en.wikipedia.org/wiki/Housing_and_Development_Board

There's a huge amount of work required to convert offices into actual housing people would want. Biggest and most costly step is you have to completely change the plumbing to add in unit access to water and sewage. Even if you make it super low income housing and convince people to accept shared facilities like a dorm you're still missing showers and laundry.

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

#514

Post by bombcar » Mon, Sep 25, 2023, 3:35 PM UTC

shrimp_emoji wrote: post #493

ohyes wrote: post #235

Earlier quoted context omitted.

And then people wonder why none of us are having families. You’re too poor in your 20s, then you aren’t able to biologically by the time you’re in your 40s. But by then everyone in their 40s has the “I’ve got mine” mentality so nothing changes. We live in the stupidest timeline.

I don't wonder why people aren't having families because the reason is obviously that they don't want to. It's not because things are worse now than ever in human history; that's pure rationalization/delusion/cope.

People always do things "because they want to" - even if forced to do it at gunpoint (they could choose to die, of course).

Things on many metrics are likely better now than any point in human history, but people's perceptions of that are way off.

But it doesn't change that there are people who would like to start a family and feel they can't. Obviously they can, as the mechanics of it all hasn't changed in the last million years, but they choose not to.

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

#515

Post by rmk » Mon, Sep 25, 2023, 3:36 PM UTC

Ah, so all the boomers who want to use their houses as nest eggs and have driven up prices making housing unaffordable for future generations have also wrecked the prospects of those less fortunate in their own generation. What's more unconscionable is the fact that young people are not forming families, not that some boomers are facing the consequences of their actions. It would be nice if all boomers faced the music, but that ain't gonna happen.

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

#516

Post by dublinben » Mon, Sep 25, 2023, 3:36 PM UTC

jessfyi wrote: post #489

max47 wrote: post #394

Earlier quoted context omitted.

As long as they don’t leave it empty, they are not limiting the stock. Changing the name on a piece of paper doesn’t magically creates new houses out of thin air.

Well they are leaving them vacant. Both rentals and houses across the country are sitting unfilled. NYC has anywhere from 13-26k rent controlled apartments vacant. As of last year ~16 million homes were estimated to be vacant overall and increasing interest rates have likely increased that. Why? Because these large orgs have purchased them via debt and it's just a line-item on a spreadsheet to them. Just build might…

Why "Vacant Homes" Won't Solve the Housing Crisis - https://www.youtube.com/watch?v=3xZXdXxYBGU

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

#517

Post by webdoodle » Mon, Sep 25, 2023, 3:36 PM UTC

jongjong wrote: post #16

Part 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…

Unless you inherited $$$ you are more likely a debt slave via indentured servitude; student loans, credit card debt, etc.

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

#518

Post by wibbily » Mon, Sep 25, 2023, 3:37 PM UTC

c_crank wrote: post #331

scottLobster wrote: post #325

Earlier quoted context omitted.

Uh, in my upper middle class DC suburb you were socially looked down on if you didn't go to college, and no one taught us even basic finance. I have friends who's parents literally put the forms in front of them, told them to sign it so they could go to college. They didn't know what they were signing, now they're possibly on the hook for the rest of their lives So "forced"? Not with a gun to their head, but when eve…

The parents knew what they were getting into, still. They were making a decision knowing the consequences.

So, if the parents are at fault, how is it appropriate to let the children shoulder the consequences?

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

#519

Post by coryrc » Mon, Sep 25, 2023, 3:38 PM UTC

FrustratedMonky wrote: post #410

jongjong wrote: post #16

Part 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…

Everyone says its regulations. But nobody wants leaky pipes, and faulty electrical wiring. Which is what happens when you start cutting back regulations, because construction contractors will cut corners, to a really shocking degree.

1. Those aren't the regulations people are mostly referencing; it's mostly zoning.

2. The electrical regulation requiring AFCI breakers increases the panel cost from $500 to $2500+ for a negligible safety increase. This is a problem!

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

#520

Post by diogenescynic » Mon, Sep 25, 2023, 3:38 PM UTC

Tragically/ironically, they did it to themselves by pulling up the ladder once they climbed it. They made zoning laws so restrictive it all but choked off and suppressed new development, making sure that supply was restricted allowed them to use their homes as ATMs.