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During the great recession I had a co worker, a legendary game designer in some circles, tell me he was collecting cans to pay for gas. When he was unemployed

During the great recession I had a co worker, a legendary game designer in some circles, tell me he was collecting cans to pay for gas. When he was unemployed he was desperate for any type of work. I was more interested in how gentrification makes her family's life harder. Back when I was 19 you could get a place in LA for 600$. Now same place is 1300$, no matter how many shifts or cans you pick up your not covering that. I hope some help comes to working class America...

MisterTea 5y ago
hearing $1300 and $600 in terms of rental money and living in NYC I cant help but ask what neighborhoods is that rent available? Back in the late 90's friends who were moving out at 17-18 Yo were having a hard time finding local places for $500 in the boonies of Queens. I own some property and have a large 2nd floor 3BR that can fetch $2500 and its in a shitty neighborhood where someone was shot around the corner the other day. Most 2BR apartments are 1800 and up with 1BR apartments starting at 1300+. People living in Manhattan shoe boxes are paying ~2000+ for 1BR.
- valarauko 5y ago
  Parent comment says LA, so perhaps its possible there?
  - 999900000999 5y ago
    It definitely was. And LA was affordable up until 10 years ago, then things got rapidly worse.
    - valarauko 5y ago
      What changed? NYC has been pretty unaffordable for a very long time - what changed in LA?
      - 999900000999 5y ago
        The rent sky rocketed. If you want to see what happens when you ignore basic economics and focus on feel good solutions, come on down. Instead of making it easier to build housing，the local government effectively floods the market with housing vouchers. If you give out a 1200$ housing vouchers, a unit which would only be 800$ on the free market is all of a sudden 1200$ since that's the voucher's max. I really do miss the LA of my youth, but it's gone now.
  - MisterTea 5y ago
    LA is a big city just like NYC. You can get apartments for under $1000 but they're usually illegal basement conversions in a crime ridden dump or a modest 1BR split into two shoe box studios in or near said crime ridden dumps.
ed312 5y ago
American households are intended/designed to purchase property. If you don't, you're perpetually at the whims of the housing market. You may agree or disagree with this as a way to structure society, but renting long-term is always going to be a losing proposition outside of some very specific situations. The biggest source of middle class wealth is real estate for a myriad of reasons.

MisterTea 5y ago

hearing $1300 and $600 in terms of rental money and living in NYC I cant help but ask what neighborhoods is that rent available? Back in the late 90's friends who were moving out at 17-18 Yo were having a hard time finding local places for $500 in the boonies of Queens. I own some property and have a large 2nd floor 3BR that can fetch $2500 and its in a shitty neighborhood where someone was shot around the corner the other day. Most 2BR apartments are 1800 and up with 1BR apartments starting at 1300+. People living in Manhattan shoe boxes are paying ~2000+ for 1BR.

valarauko 5y ago
Parent comment says LA, so perhaps its possible there?
- 999900000999 5y ago
  It definitely was. And LA was affordable up until 10 years ago, then things got rapidly worse.
  - valarauko 5y ago
    What changed? NYC has been pretty unaffordable for a very long time - what changed in LA?
    - 999900000999 5y ago
      The rent sky rocketed. If you want to see what happens when you ignore basic economics and focus on feel good solutions, come on down. Instead of making it easier to build housing，the local government effectively floods the market with housing vouchers. If you give out a 1200$ housing vouchers, a unit which would only be 800$ on the free market is all of a sudden 1200$ since that's the voucher's max. I really do miss the LA of my youth, but it's gone now.
- MisterTea 5y ago
  LA is a big city just like NYC. You can get apartments for under $1000 but they're usually illegal basement conversions in a crime ridden dump or a modest 1BR split into two shoe box studios in or near said crime ridden dumps.

ed312 5y ago

American households are intended/designed to purchase property. If you don't, you're perpetually at the whims of the housing market. You may agree or disagree with this as a way to structure society, but renting long-term is always going to be a losing proposition outside of some very specific situations. The biggest source of middle class wealth is real estate for a myriad of reasons.