4 ms·

$2100/mo for a tiny studio, $2400+ for 1 bed room apartment, or even $3k for a two bedroom where I am in Southern California. If the 30% rule is to be followed,

by vinyl7 4y ago

$2100/mo for a tiny studio, $2400+ for 1 bed room apartment, or even $3k for a two bedroom where I am in Southern California. If the 30% rule is to be followed, a person would have to be pulling in $7,200/mo for 1 bedroom...that would be a salary of $130k/yr. We really need a recession/crash to reset the housing market, otherwise we're going to end up with a bunch of oligarchs owning all the properties while the millennial populace will be on the streets

deleted 4y ago
[deleted]
_Parfait_ 4y ago
Why is the solution to have a housing crash that evicts people from their homes? Housing is the most simple supply/demand issue imaginable. Remove red tape, stop with the restrictive zoning and build more housing. The issue is we've told generations of people to buy a house quickly so they can profit off of restrictive zoning because the price of their homes will go up. This cycle has create in immovable NIMBY class. The solution isn't crashing the American economy.
- vinyl7 4y ago
  I want a crash as revenge against the over leveraged investors and corporations who drove up prices like mad over these past two years. They shouldnt be allowed to run a big ponzi scheme and get away with it
- FollowingTheDao 4y ago
  > Housing is the most simple supply/demand issue imaginable. It is not as simple as supply and demand. There is a huge profit motive as all that controls supply and the type of supply. It is one thing to build studio apartments but do we need "luxury" studio apartments for a 50% premium? https://www.google.com/search?client=safari&rls=en&q=luxury+studio+apartments&ie=UTF-8&oe=UTF-8 https://www.google.com/search?client=safari&rls=en&q=luxury+... Since housing is a need people will pay what they have to. So the supply and demand chart is skewed. Also, that demand also includes people who demand two houses. And an artificially low supply, well who does that benefit? If there was enough supply built housing prices would crash. How do you think people who view their houses as an investment feel about that? people do not need to be evicted when the economy crashes. That as a choice in 2008 that Bush and Obama made. They bailed out the banks instead of the people. But the solution is deeper than that as well. There is no way out, and people with more money then you will have it all and you will have nothing, that is how this all works.
mywittyname 4y ago
> We really need a recession/crash to reset the housing market, If this happens, then the people who currently can't afford housing will be turbofucked, while the people with the expensive housing will be, at worse, just fine, or at best, will profit greatly from it. The GFC was not that long ago. And it minted so many millionaires that everyone is keeping an eye out for prices to drop because they want to replicate that same success. Lightning will not strike like that again because everyone is standing around that spot with metal rods held high in the air. There's no end of people waiting for "the next housing crash" to buy. If you want cheaper housing, then you want more housing to be built. And you want the housing to be high density. Which means you're going to stepping on a lot of innocent people, and enriching a lot bad people to get them built. We're probably talking about using eminent domain to seize single family homes, and handing the land over to some developers (at a discount) to raze them and build large condos in their place. Because, fact is, nobody wants to give up their single family home that's been appreciating at double digit rates for the past 20 years with no end in sight. You're going to have to pry it from them.
- avar 4y ago
  There's a huge amount of unused housing supply that's already built in the form of large single family homes that can't be split up into duplexes due to zoning or by-laws. You might need some plumbing for a second kitchen, installing a new front door, or perhaps putting up a wall or two. > Because, fact is, nobody wants to give up their single family home that's been appreciating Critically this solution would be a win-win for a lot of existing homeowners. There's a lot of people at retirement age whose kids have left the nest who'd happily go for turning their house into a duplex, but the bureaucracy isn't giving them that option. They might not want to "move", but would happily give up half their living space for extra retirement money. There's a lot of ways to dramatically increase the housing supply practically overnight.
  - WWLink 4y ago
    I don't buy it, dude. In the towns around where I live in SoCal, it is totally legal to raze a single family house and build up to 4 units in its place. The problem is the extra capacity gets built out at such a slow pace that it's just a drop of water in a hot frying pan. lol my landlord is actually planning to do that with the house I'm living in after we move out, whenever we decide to do that.

by vinyl7 4y ago

deleted 4y ago

[deleted]

_Parfait_ 4y ago

Why is the solution to have a housing crash that evicts people from their homes? Housing is the most simple supply/demand issue imaginable. Remove red tape, stop with the restrictive zoning and build more housing. The issue is we've told generations of people to buy a house quickly so they can profit off of restrictive zoning because the price of their homes will go up. This cycle has create in immovable NIMBY class. The solution isn't crashing the American economy.

vinyl7 4y ago
I want a crash as revenge against the over leveraged investors and corporations who drove up prices like mad over these past two years. They shouldnt be allowed to run a big ponzi scheme and get away with it
FollowingTheDao 4y ago
> Housing is the most simple supply/demand issue imaginable. It is not as simple as supply and demand. There is a huge profit motive as all that controls supply and the type of supply. It is one thing to build studio apartments but do we need "luxury" studio apartments for a 50% premium? https://www.google.com/search?client=safari&rls=en&q=luxury+studio+apartments&ie=UTF-8&oe=UTF-8 https://www.google.com/search?client=safari&rls=en&q=luxury+... Since housing is a need people will pay what they have to. So the supply and demand chart is skewed. Also, that demand also includes people who demand two houses. And an artificially low supply, well who does that benefit? If there was enough supply built housing prices would crash. How do you think people who view their houses as an investment feel about that? people do not need to be evicted when the economy crashes. That as a choice in 2008 that Bush and Obama made. They bailed out the banks instead of the people. But the solution is deeper than that as well. There is no way out, and people with more money then you will have it all and you will have nothing, that is how this all works.

mywittyname 4y ago

> We really need a recession/crash to reset the housing market, If this happens, then the people who currently can't afford housing will be turbofucked, while the people with the expensive housing will be, at worse, just fine, or at best, will profit greatly from it. The GFC was not that long ago. And it minted so many millionaires that everyone is keeping an eye out for prices to drop because they want to replicate that same success. Lightning will not strike like that again because everyone is standing around that spot with metal rods held high in the air. There's no end of people waiting for "the next housing crash" to buy. If you want cheaper housing, then you want more housing to be built. And you want the housing to be high density. Which means you're going to stepping on a lot of innocent people, and enriching a lot bad people to get them built. We're probably talking about using eminent domain to seize single family homes, and handing the land over to some developers (at a discount) to raze them and build large condos in their place. Because, fact is, nobody wants to give up their single family home that's been appreciating at double digit rates for the past 20 years with no end in sight. You're going to have to pry it from them.

avar 4y ago
There's a huge amount of unused housing supply that's already built in the form of large single family homes that can't be split up into duplexes due to zoning or by-laws. You might need some plumbing for a second kitchen, installing a new front door, or perhaps putting up a wall or two. > Because, fact is, nobody wants to give up their single family home that's been appreciating Critically this solution would be a win-win for a lot of existing homeowners. There's a lot of people at retirement age whose kids have left the nest who'd happily go for turning their house into a duplex, but the bureaucracy isn't giving them that option. They might not want to "move", but would happily give up half their living space for extra retirement money. There's a lot of ways to dramatically increase the housing supply practically overnight.
- WWLink 4y ago
  I don't buy it, dude. In the towns around where I live in SoCal, it is totally legal to raze a single family house and build up to 4 units in its place. The problem is the extra capacity gets built out at such a slow pace that it's just a drop of water in a hot frying pan. lol my landlord is actually planning to do that with the house I'm living in after we move out, whenever we decide to do that.