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Welcome to neo-serfdom. You either own your home, are in a small group of new-money who can afford a home, or are on a never ending treadmill of saving in which

by reedf1 6y ago

Welcome to neo-serfdom. You either own your home, are in a small group of new-money who can afford a home, or are on a never ending treadmill of saving in which house prices are increasing beyond any amount you can possibly save.

maxerickson 6y ago
It should be possible for majorities to change housing policies and increase supply. Too bad we don't. It's fine if housing is a significant asset, but we should treat it as a problem if people see it as an investment (the actual utility of most housing declines over time, maintenance and upkeep are required, value only goes up because of location and demand).
- SketchySeaBeast 6y ago
  The trick is to somehow make the new supply appealing. I live in Edmonton, home of the urban sprawl, and while detached home prices climb, condo and apartment prices are much more stagnant. Sure we can do high density but when everyone wants a lawn it's hard to sell. I guess having no option is a way to do that, but the people I know who don't own homes are the ones who could afford a condo, but won't do it because a house is the dream.
  - blaser-waffle 6y ago
    Calgary is the home of the urban sprawl. Edmonton has a long way to go to get that ugly. Edmonton saw a massive shortage in housing a few years back during the oil boom and moved to build tons of condos and apartments, plus offered tax subsidies if you converted a basement or in-law apartment into a full-on dwelling. So there is a glut of average-tier 2-bed 2-bath apartments everywhere. Plenty of space and COL is reasonable if you're willing to go further out. But, on average, still 100k (adjusting for currency) more than what my coworkers in the NC Research Triangle are paying for a similar square footage house.
- lotsofpulp 6y ago
  > value only goes up because of location and demand). Unless you can recreate desirable weather patterns and topography, that’s not going to happen.
  - maxerickson 6y ago
    Urga burga? It isn't clear what you are replying to. Of course location will always be a factor in prices, but policy can exacerbate the effect or not, and we tend to have policies that exacerbate it.
    - lotsofpulp 6y ago
      I’m claiming there is a wide gap in desirability of various regions around the world, and there is a wide gap in wealth/income also. This dynamic will result in the situation where the most desirable places (such as CA) will have insatiable demand. Creating enough housing supply to satisfy it, whether through higher density or sprawl, will make the place less desirable (have to share resources and amenities with more people), so residents will of course oppose it. Maybe smoke season will dissuade people.
deleted 6y ago
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by reedf1 6y ago

maxerickson 6y ago

It should be possible for majorities to change housing policies and increase supply. Too bad we don't. It's fine if housing is a significant asset, but we should treat it as a problem if people see it as an investment (the actual utility of most housing declines over time, maintenance and upkeep are required, value only goes up because of location and demand).

SketchySeaBeast 6y ago
The trick is to somehow make the new supply appealing. I live in Edmonton, home of the urban sprawl, and while detached home prices climb, condo and apartment prices are much more stagnant. Sure we can do high density but when everyone wants a lawn it's hard to sell. I guess having no option is a way to do that, but the people I know who don't own homes are the ones who could afford a condo, but won't do it because a house is the dream.
- blaser-waffle 6y ago
  Calgary is the home of the urban sprawl. Edmonton has a long way to go to get that ugly. Edmonton saw a massive shortage in housing a few years back during the oil boom and moved to build tons of condos and apartments, plus offered tax subsidies if you converted a basement or in-law apartment into a full-on dwelling. So there is a glut of average-tier 2-bed 2-bath apartments everywhere. Plenty of space and COL is reasonable if you're willing to go further out. But, on average, still 100k (adjusting for currency) more than what my coworkers in the NC Research Triangle are paying for a similar square footage house.
lotsofpulp 6y ago
> value only goes up because of location and demand). Unless you can recreate desirable weather patterns and topography, that’s not going to happen.
- maxerickson 6y ago
  Urga burga? It isn't clear what you are replying to. Of course location will always be a factor in prices, but policy can exacerbate the effect or not, and we tend to have policies that exacerbate it.
  - lotsofpulp 6y ago
    I’m claiming there is a wide gap in desirability of various regions around the world, and there is a wide gap in wealth/income also. This dynamic will result in the situation where the most desirable places (such as CA) will have insatiable demand. Creating enough housing supply to satisfy it, whether through higher density or sprawl, will make the place less desirable (have to share resources and amenities with more people), so residents will of course oppose it. Maybe smoke season will dissuade people.

deleted 6y ago

[deleted]