4 ms·

That's just artificial scarcity, right? Rural property out in the woods is just as cheap as its ever been, in my experience. Cities just have a lot of laws prev

That's just artificial scarcity, right? Rural property out in the woods is just as cheap as its ever been, in my experience. Cities just have a lot of laws preventing a lot of things, but I think most people who choose to live in cities prefer it like that.

petra 8y ago
Maybe.But Germany has cities but they created a political system(after ww2) optimized for cheap real-estate , and they do have fine cities, while their real-estate prices has Rose neglibly over the last few decades.
- stealthmodeclan 8y ago
  German manufacturers are not limited to few cities. There are factories in villages too.
- maxxxxx 8y ago
  "while their real-estate prices has Rose neglibly over the last few decades." Those days are over. Germany has a huge real estate problem right now.
paublyrne 8y ago
I'm not sure the relevance of it being artificial or not is here. The reality is that many people in their 20s and 30s can't buy a house, while their parents could, even if their parents were less affluent by many measures, say in orange purchasing power.
- prewett 8y ago
  That's also partly because you can't hardly buy a newly constructed house unless it's 3000+ sq feet, whereas houses from decades ago were substantially smaller, leading to more affordability. The lack of these houses does not imply that people currently in their 20s and 30s are less affluent, just that there is less affordable housing.
- ishjoh 8y ago
  There seems to be three issues related to real estate that effect prices and one issue related to purchasing power that I'd like to point out. 1) The percentage of people living in cities as compared to living in rural areas has increased dramatically (https://www.census.gov/library/visualizations/2016/comm/acs-rural-urban.html https://www.census.gov/library/visualizations/2016/comm/acs-...) 2) Large cities (NYC, San Francisco, etc), have lots of regulations to building more housing 3) Demand for housing in large cities has exceeded supply for decades 4) Student loan debt has destroyed purchasing power for folks in their 20s and 30s, the average student loan is almost 40k (https://studentloanhero.com/student-loan-debt-statistics/ https://studentloanhero.com/student-loan-debt-statistics/) Leaving NYC, even after taking a pay cut, was one of the best decisions I ever made. I don't have data, but I suspect that for young folks outside of the largest 20 American cities, if they didn't have on average 40k in student loan debt, they would have more purchasing power then previous generations even including real estate.
s73v3r_ 8y ago
Cities also have jobs. I don't see many postings for positions out in the middle of the woods. Certainly not enough to sustain all the people who would be needing to go there in order to have property.

petra 8y ago

Maybe.But Germany has cities but they created a political system(after ww2) optimized for cheap real-estate , and they do have fine cities, while their real-estate prices has Rose neglibly over the last few decades.

stealthmodeclan 8y ago
German manufacturers are not limited to few cities. There are factories in villages too.
maxxxxx 8y ago
"while their real-estate prices has Rose neglibly over the last few decades." Those days are over. Germany has a huge real estate problem right now.

paublyrne 8y ago

I'm not sure the relevance of it being artificial or not is here. The reality is that many people in their 20s and 30s can't buy a house, while their parents could, even if their parents were less affluent by many measures, say in orange purchasing power.

prewett 8y ago
That's also partly because you can't hardly buy a newly constructed house unless it's 3000+ sq feet, whereas houses from decades ago were substantially smaller, leading to more affordability. The lack of these houses does not imply that people currently in their 20s and 30s are less affluent, just that there is less affordable housing.
ishjoh 8y ago
There seems to be three issues related to real estate that effect prices and one issue related to purchasing power that I'd like to point out. 1) The percentage of people living in cities as compared to living in rural areas has increased dramatically (https://www.census.gov/library/visualizations/2016/comm/acs-rural-urban.html https://www.census.gov/library/visualizations/2016/comm/acs-...) 2) Large cities (NYC, San Francisco, etc), have lots of regulations to building more housing 3) Demand for housing in large cities has exceeded supply for decades 4) Student loan debt has destroyed purchasing power for folks in their 20s and 30s, the average student loan is almost 40k (https://studentloanhero.com/student-loan-debt-statistics/ https://studentloanhero.com/student-loan-debt-statistics/) Leaving NYC, even after taking a pay cut, was one of the best decisions I ever made. I don't have data, but I suspect that for young folks outside of the largest 20 American cities, if they didn't have on average 40k in student loan debt, they would have more purchasing power then previous generations even including real estate.

s73v3r_ 8y ago

Cities also have jobs. I don't see many postings for positions out in the middle of the woods. Certainly not enough to sustain all the people who would be needing to go there in order to have property.