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This is a great article. It's odd we all call it a "housing crisis". It's a "housing dream" for 50%+ plus of the population. And a "crisis" for only like 10-20%
by onlyrealcuzzo 5y ago
This is a great article. It's odd we all call it a "housing crisis". It's a "housing dream" for 50%+ plus of the population. And a "crisis" for only like 10-20%. This is not an issue that gets fixed. This is an issue that only gets better if you're on the winning side and worse if you're on the losing side.
- tgv 5y agoAccording to the dictionary: a time of intense difficulty or danger, a time when a difficult or important decision must be made. If 10%-20% of the population has serious housing problems, that's a crisis in my book.
- dcolkitt 5y agoIt’s a crisis for all of us, even homeowners, because it imposes massive drag on the economy. Much of economic growth is driven by people relocating from low productivity regions and firms to high productivity regions and firms. When housing costs explode, there’s no way for that to happen. New entrants have no way of getting on the property ladder in HCoL areas with high paying jobs. We all lose out from the stuff that doesn’t get made and the innovation that doesn’t happen because IT help desk specialists at regional banks can’t become data scientists at tech startups because they can’t afford to move from West Virginia to Seattle
- dzhiurgis 5y agoAlmost all of NZ's parliament owns multiple homes. It's a bit of a joke.