4 ms·

In the government (and punditry / public discourse) it sure seems to be. Academic and financial circles only matter as much as they can sway the former to make

by icyfox 4y ago

In the government (and punditry / public discourse) it sure seems to be. Academic and financial circles only matter as much as they can sway the former to make policy.

bobthepanda 4y ago
The last time the US debt did not rise was the Clinton Administration. At this point, the two party system means you pick between a party that does not care, and a party that pretends to. So far, nothing bad has happened either economically or to their electoral results.
- boppo1 4y ago
  I'm 30 and most of the people I know who work full-time have no hope of owning a home. Healthcare costs are insane. Higher education costs are insane. Used car prices are insane. Having kids? Saving enough for retirement? What a laugh. The only cheap thing we've got is consumer electronic toys which haven't materially improved QoL in years. More young people than ever seem to be politically open to extremes like fascism or communism. There hasn't been a single-day-crash, but some bad things have definitely happened economically. We just hide it in "hedonic adjustments".
  - exclusiv 4y ago
    Anyone that works full-time has a high probability of owning a home, just not necessarily in their current city. Not saying that's a good thing, but supply constraints and build costs are here to stay for the major metros. Interest rates and remote work being indefinite should help with prices and create buying opportunities for some in larger cities. But it's better to play the real estate game by being pragmatic about what you can afford where (buy elsewhere and move, invest elsewhere before buying a primary, etc) and how to get to the next level instead of feeling entitled. I accepted the reality years ago and did 2 investment properties in other cities before buying my primary in the city I wanted to live in. It sucks to have to do that and take so long to buy a primary, but the game is about capital. And real estate is one of the few beautiful assets in a sea of bullshit you either 1) don't need or 2) doesn't provide any joy. I know a lot of people on here have contempt for real estate investing but if you aren't in it, IMO, you are depriving yourself and your family of the absolute easiest way to make money and build wealth. And there are plenty of places where you don't need a ton of cash to get started.

by icyfox 4y ago

In the government (and punditry / public discourse) it sure seems to be. Academic and financial circles only matter as much as they can sway the former to make policy.

bobthepanda 4y ago

The last time the US debt did not rise was the Clinton Administration. At this point, the two party system means you pick between a party that does not care, and a party that pretends to. So far, nothing bad has happened either economically or to their electoral results.

boppo1 4y ago
I'm 30 and most of the people I know who work full-time have no hope of owning a home. Healthcare costs are insane. Higher education costs are insane. Used car prices are insane. Having kids? Saving enough for retirement? What a laugh. The only cheap thing we've got is consumer electronic toys which haven't materially improved QoL in years. More young people than ever seem to be politically open to extremes like fascism or communism. There hasn't been a single-day-crash, but some bad things have definitely happened economically. We just hide it in "hedonic adjustments".
- exclusiv 4y ago
  Anyone that works full-time has a high probability of owning a home, just not necessarily in their current city. Not saying that's a good thing, but supply constraints and build costs are here to stay for the major metros. Interest rates and remote work being indefinite should help with prices and create buying opportunities for some in larger cities. But it's better to play the real estate game by being pragmatic about what you can afford where (buy elsewhere and move, invest elsewhere before buying a primary, etc) and how to get to the next level instead of feeling entitled. I accepted the reality years ago and did 2 investment properties in other cities before buying my primary in the city I wanted to live in. It sucks to have to do that and take so long to buy a primary, but the game is about capital. And real estate is one of the few beautiful assets in a sea of bullshit you either 1) don't need or 2) doesn't provide any joy. I know a lot of people on here have contempt for real estate investing but if you aren't in it, IMO, you are depriving yourself and your family of the absolute easiest way to make money and build wealth. And there are plenty of places where you don't need a ton of cash to get started.