3 ms·
I'm not a boomer but you're dead right. The weird thing, is why have houses become considerably more expensive in AU, the UK, NZ, CA and a few parts of the US
by sien 11y ago
I'm not a boomer but you're dead right.
The weird thing, is why have houses become considerably more expensive in AU, the UK, NZ, CA and a few parts of the US while most things have become much better?
The finance thing, on negative gearings and capital gains isn't enough. And why does it do it now when negative gearing has been around in AU since 1915 and there was no negative gearing at all until the 1980s. But housing was much cheaper in the 1970s?
- vacri 11y agoI think part of it is that household income has increased overall - women now work more often and at higher salaries than they used to, and other goods have generally become much cheaper. The leftover part, "housing + disposable income" is a larger proportion of the overall. As a result, people pump more money into the 'housing' bit - individually, it's 'have a bit less disposable income for a bit of a nicer place'. But at a demographic level, it'd put a lot more money into the market. Totally a gut intuition, not supported by anything in particular. Things outside housing have become cheaper. And most people consume their full income in some way - I just think that housing seems to be taking up the slack from other things being cheaper.
- sien 11y agoBut all those things also apply in the US in say, Houston, Denver, Chicago, St Louis, DC and other places and their housing is half what ours is.