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Get a job!

_iyig 6y ago
>Across the country, Tekin found that "[m]edian home prices have increased at four times the rate of household incomes since 1960," meaning homeownership is increasingly out of reach for many Americans. Rents, meanwhile, have grown roughly twice as fast as adjusted wages between 1960 and 2017. https://kinder.rice.edu/urbanedge/2019/07/25/gap-between-income-growth-and-housing-cost-increases-continues-grow https://kinder.rice.edu/urbanedge/2019/07/25/gap-between-inc...
- sokoloff 6y ago
  Mortgage rates move inversely with house prices (because many buyers, especially marginal buyers) are buying houses based on the monthly payments more than on the HUD-1 statement price. By that admittedly too-simple analysis, houses peaked in unaffordability in 1980 and have been only modestly less affordable since 2000. (Much of this is likely explained by the median house in 2000 being much larger than the median house in 1960, having nearly doubled in size between 1973 and 2016.) [0] https://docs.google.com/spreadsheets/d/1z-A7AhhKNcVbvq_n8fPP8Fbq65iQ9s8IbkyM7SB6kp4/edit?usp=sharing https://docs.google.com/spreadsheets/d/1z-A7AhhKNcVbvq_n8fPP... [1] https://www.aei.org/carpe-diem/new-us-homes-today-are-1000-square-feet-larger-than-in-1973-and-living-space-per-person-has-nearly-doubled/ https://www.aei.org/carpe-diem/new-us-homes-today-are-1000-s...
aboringusername 6y ago
Got a job at minimum wage. No future prospects, stuck in a rut, deadend boringness. Proceeds to kill self. At least toast was nice.
- collyw 6y ago
  You must have seriously low ambitions if you can't move on from a minimum wage job.
Cloudef 6y ago
I have a job and I get paid much better than average person here. However I still don't feel very wealthy, and there's lots of wealth imbalance in this country. The younger people are even more fucked. I'll probably be fine considering I earn more than average, but I'm seriously concerned with the trend however. Sure we can own trivial things like laptops and what not, but that's not really something to secure your future with. Younger generations will be forever slaves and work to the grave, unless you happen to be born in fortunate family or get incredibly lucky.

Get a job!

>Across the country, Tekin found that "[m]edian home prices have increased at four times the rate of household incomes since 1960," meaning homeownership is increasingly out of reach for many Americans. Rents, meanwhile, have grown roughly twice as fast as adjusted wages between 1960 and 2017. https://kinder.rice.edu/urbanedge/2019/07/25/gap-between-income-growth-and-housing-cost-increases-continues-grow https://kinder.rice.edu/urbanedge/2019/07/25/gap-between-inc...

sokoloff 6y ago
Mortgage rates move inversely with house prices (because many buyers, especially marginal buyers) are buying houses based on the monthly payments more than on the HUD-1 statement price. By that admittedly too-simple analysis, houses peaked in unaffordability in 1980 and have been only modestly less affordable since 2000. (Much of this is likely explained by the median house in 2000 being much larger than the median house in 1960, having nearly doubled in size between 1973 and 2016.) [0] https://docs.google.com/spreadsheets/d/1z-A7AhhKNcVbvq_n8fPP8Fbq65iQ9s8IbkyM7SB6kp4/edit?usp=sharing https://docs.google.com/spreadsheets/d/1z-A7AhhKNcVbvq_n8fPP... [1] https://www.aei.org/carpe-diem/new-us-homes-today-are-1000-square-feet-larger-than-in-1973-and-living-space-per-person-has-nearly-doubled/ https://www.aei.org/carpe-diem/new-us-homes-today-are-1000-s...

aboringusername 6y ago

Got a job at minimum wage. No future prospects, stuck in a rut, deadend boringness. Proceeds to kill self. At least toast was nice.

collyw 6y ago
You must have seriously low ambitions if you can't move on from a minimum wage job.

Cloudef 6y ago

I have a job and I get paid much better than average person here. However I still don't feel very wealthy, and there's lots of wealth imbalance in this country. The younger people are even more fucked. I'll probably be fine considering I earn more than average, but I'm seriously concerned with the trend however. Sure we can own trivial things like laptops and what not, but that's not really something to secure your future with. Younger generations will be forever slaves and work to the grave, unless you happen to be born in fortunate family or get incredibly lucky.