4 ms·

Real estate prices are also part of the problem, especially in urban cores... some Seattle and SF rents are just stupid, to say nothing of NYC

• robocat 5y ago
  Real estate prices and rent are driven by how much people can only just afford it. If people earn more, they can afford a bigger mortgage, so house prices rise.
  • Itsdijital 5y ago
    Yeah, but the counter to all that is building new housing, which unsurprisingly very difficult in these areas.
    • robocat 5y ago
      > but the counter to all that is building new housing I would like to see some stats on that meme. Anecdotally, what I think happens is that people buying second homes, vacation homes, and more people living one person to a home. People without homes are not clearly advantaged. I live in Christchurch New Zealand, with a truely massive increase in standalone houses, and significant densification in the city center. However house prices are still booming, and plenty of friends are struggling to find a first home.