5 ms·
Actually, I think the housing price expectations discrepancy is probably a function of where you live vs where the GP lives. Inflation-adjusted housing prices h
by chibg10 8y ago
Actually, I think the housing price expectations discrepancy is probably a function of where you live vs where the GP lives. Inflation-adjusted housing prices haven't actually risen all that much outside top-tier cities.
http://www.realestatedecoded.com/case-shiller/ http://www.realestatedecoded.com/case-shiller/
Given that a relatively small percentage of people live in these places, I get the feeling the perception of a housing price crisis is larger than the reality. I don't mean to say that housing isn't unreasonably expensive in some places, but that the issue likely receives disproportionate attention because it most strongly affects those who tend to write and read about issues like a housing price crisis (i.e. journalists, software developers, economists, etc. who often live in these expensive cities). The people dictating and participating in these conversations are those who are living in expensive cities.
For the typical poor person, I suspect the costs of higher education and healthcare are usually a bigger obstacle than housing costs. Though this is probably not the case for a poor person in San Francisco.
- anoncoward111 8y agoMillions of people live in top tier cities and millions of people live in Nowhere, USA where housing is still ludicrously expensive in proportion to job prospects
- tjr225 8y agoThis hits really close for me. I am a Seattle IT guy and looking at houses back near family in Michigan. Sure, houses are 2-4x more expensive here...but I will most certainly make 1/2 as much in the areas in Michigan that I would like to live...which is as far away from the Detroit metro as possible. And even if I can make that much I will be lucky to find a job. Here in Seattle people come to me to hire me!
- anoncoward111 8y agoRemote work will someday change this but boy is that change slow to occur!!
- barrow-rider 8y agoAmen... but with Washington DC. Northern VA has literally the richest counties per capita in the US. Then I look at Eastern WA or Idaho and lose my shit. Montana, too, though the culture is terrible. If only I could get a job there that didn't pay poor salaries...
- randomdata 8y agoYou know, I've always heard that and thought it seemed reasonable, but when I actually started looking through the data I noticed that the top tier cities often have significantly lower median incomes. The top tier cities also have higher mean incomes. The top tier cities tend to attract the outliers. If you are Mark Zuckerberg, you probably live in a top tier city. But almost nobody is able to say they are earning like Mark Zuckerberg. And if you are earning like Mark Zuckerberg, the cost of housing is the least of your concerns. It seems for the normal every day average person, they actually make less money in a top tier city.