7 ms·

Dude I want to afford a nice home and retire. The FED has destroyed the housing market and effective wages. Get a grip

by greatpostman 4y ago

Analemma_ 4y ago
Voters in your area who block(ed) all new construction destroyed the housing market. Your blame is misplaced.
- bombcar 4y ago
  House prices are up quite a bit in areas that are rapidly building
  - astrange 4y ago
    That's reverse causation. Proper question is how much they were building the last three decades, and if it's outrunning new household formation* now. There are places with cheap housing in the US, generally not in the good jobs areas but if you're retiring that's not so much a problem. * that's when people move out of their parents' house or decide to not have roommates anymore
- ummonk 4y ago
  Well it's voters across the US, especially in urban areas with booming economies. Some places are trying to construct housing but can't cope with the influx of new homebuyers. Since there are no internal immigration restrictions, we have a national housing market with only partial local differentiation.
astrange 4y ago
That was NIMBYs. Worry about real economic constraints. You live in one of the richest countries in the world and probably make 4x median income even for the US anyway. Move somewhere else if you want your money to go further.
- greatpostman 4y ago
  Nope it’s from cheap money
  - zamfi 4y ago
    It takes two: demand provided by cheap money, and supply capped by NIMBY zoning. Neither alone is enough.
  - hahaxdxd123 4y ago
    That's why with all this cheap money, computers are more expensive than ever!
- the_optimist 4y ago
  [flagged]
  - astrange 4y ago
    Is "international market" like "cosmopolitan Rothschild bankers"? _We're_ the financial and IP rights imperialists! If anyone's buying any countries on international markets it's us.
    - the_optimist 4y ago
      How exactly would we be buying other countries with the annual $T trade deficit? No, you have the actual numbers reversed.
      - astrange 4y ago
        That's how the financial empire works. It's free stuff at the casino to keep them coming back. Sure they take the USD we print for them, but then what are they going to do with it? Keep it in US bank accounts.
        4y ago
silisili 4y ago
Lack of government action on housing destroyed the housing market much more than the fed.
SkyPuncher 4y ago
I'd much rather pay more for a home than to have my bank account magically go up in smoke for no reason of my own.
- pishpash 4y ago
  > no reason of my own Other than giving your 97% uninsured money to a place without checking its financial situation and pretending you're not just another creditor.
- anon291 4y ago
  Unless you have more than 250 k, that was never really a possibility

Dude I want to afford a nice home and retire. The FED has destroyed the housing market and effective wages. Get a grip

Analemma_ 4y ago

Voters in your area who block(ed) all new construction destroyed the housing market. Your blame is misplaced.

bombcar 4y ago
House prices are up quite a bit in areas that are rapidly building
- astrange 4y ago
  That's reverse causation. Proper question is how much they were building the last three decades, and if it's outrunning new household formation* now. There are places with cheap housing in the US, generally not in the good jobs areas but if you're retiring that's not so much a problem. * that's when people move out of their parents' house or decide to not have roommates anymore
ummonk 4y ago
Well it's voters across the US, especially in urban areas with booming economies. Some places are trying to construct housing but can't cope with the influx of new homebuyers. Since there are no internal immigration restrictions, we have a national housing market with only partial local differentiation.

astrange 4y ago

That was NIMBYs. Worry about real economic constraints. You live in one of the richest countries in the world and probably make 4x median income even for the US anyway. Move somewhere else if you want your money to go further.

greatpostman 4y ago
Nope it’s from cheap money
- zamfi 4y ago
  It takes two: demand provided by cheap money, and supply capped by NIMBY zoning. Neither alone is enough.
- hahaxdxd123 4y ago
  That's why with all this cheap money, computers are more expensive than ever!
the_optimist 4y ago
[flagged]
- astrange 4y ago
  Is "international market" like "cosmopolitan Rothschild bankers"? _We're_ the financial and IP rights imperialists! If anyone's buying any countries on international markets it's us.
  - the_optimist 4y ago
    How exactly would we be buying other countries with the annual $T trade deficit? No, you have the actual numbers reversed.
    - astrange 4y ago
      That's how the financial empire works. It's free stuff at the casino to keep them coming back. Sure they take the USD we print for them, but then what are they going to do with it? Keep it in US bank accounts.
      - 4y ago

silisili 4y ago

Lack of government action on housing destroyed the housing market much more than the fed.

SkyPuncher 4y ago

I'd much rather pay more for a home than to have my bank account magically go up in smoke for no reason of my own.

pishpash 4y ago
> no reason of my own Other than giving your 97% uninsured money to a place without checking its financial situation and pretending you're not just another creditor.
anon291 4y ago
Unless you have more than 250 k, that was never really a possibility