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This is only an issue because of constrained supply driving prices up. If there was more supply, prices would stabilize somewhere lower. Given enough supply th
by gonehome 5y ago
This is only an issue because of constrained supply driving prices up.
If there was more supply, prices would stabilize somewhere lower. Given enough supply that point would be somewhere one income could support.
It's the constrained supply paired with high demand that drives prices up and requires multiple high incomes to compete (especially in places where this has been taken to the extremes because of NIMBYism and entrenched anti-build regulation/incentives).
- dionidium 5y agoSure, I'm all-in on YIMBYism, but some places will always be more desirable than others and those places will likely always cost more and all things being equal buyers with two incomes will be more likely to be able to afford those houses.
- formerly_proven 5y agoRegardless of market conditions, DINK still offers a huge economic advantage because, well it's in the name: two incomes, ~half the living expenses compared to a single. It's popular because it's meta.
- gonehome 5y agoYeah, but it'll only drive prices up if supply is constrained. Land is scarce so there will always be some constraints in highly desirable areas, but today we're way way below what the land can support because of bad policy.