3 ms·

This used to be considered a bracket that was nearly "guaranteed" to be in the home ownership class. Definitely endemic of housing in the USA, where people wan

This used to be considered a bracket that was nearly "guaranteed" to be in the home ownership class. Definitely endemic of housing in the USA, where people want to live, there are restrictions on building adequate housing that even upper middle class folks are priced out of ownership (let alone reasonable rents) I view this as a failure of housing policy and jurisdiction

nunez 4y ago
$150k/yr in 1980 is roughly $580k/yr today, though.
- seanmcdirmid 4y ago
  $544k according to https://www.in2013dollars.com/us/inflation/1980?amount=150 https://www.in2013dollars.com/us/inflation/1980?amount=150. Which makes me realize how a my FAANG salary is not even keeping up with where my dad was in 1980 when he was contracting in nuclear plant construction :p (but that industry imploded in the mid 80s, so it didn't last).
  - nunez 4y ago
    yeah it's crazy how much net compensation has flatlined for everyone but people heavily compensated by the markets.
cragfar 4y ago
That is part of it, but fewer people are getting married and having kids which was one of the main drivers for buying a home. And job hopping is more common.
- thaw13579 4y ago
  It could go the other way as well, fewer people are starting a family because of the cost of housing.
  - lotsofpulp 4y ago
    It could also be fewer people are willing to start a family because of the cost of a certain quality of housing, amongst certain other minimum standards of quality of life. For example, people might have been willing to raise kids while sleeping in a single bed in a single room apartment, possibly having to move multiple times. Now, you only have kids if you can secure a single family detached house with multiple bedrooms located amongst other similar or higher socioeconomic class neighbors (good school district), and at least one parent has reliable employment with health insurance benefits, which might mean living in a metropolitan area with limited housing supply.
  - cragfar 4y ago
    True, but even in cities that had affordable housing there was a decline.
foobarian 4y ago
> where people want to live, there are restrictions on building adequate housing Sadly there is a bit of the reverse effect too, i.e. people want to live in places because there are restrictions on building.
- zamfi 4y ago
  > people want to live in places because there are restrictions on building This is a very strong claim that I would love to see even a smidgen of evidence for. And I don’t mean “people complain about density at local planning meetings” — that a vocal minority of residents don’t want their own individual neighborhoods to change is not a surprise, but it’s also not the case that most of those people move when density increases are approved.

nunez 4y ago

$150k/yr in 1980 is roughly $580k/yr today, though.

seanmcdirmid 4y ago
$544k according to https://www.in2013dollars.com/us/inflation/1980?amount=150 https://www.in2013dollars.com/us/inflation/1980?amount=150. Which makes me realize how a my FAANG salary is not even keeping up with where my dad was in 1980 when he was contracting in nuclear plant construction :p (but that industry imploded in the mid 80s, so it didn't last).
- nunez 4y ago
  yeah it's crazy how much net compensation has flatlined for everyone but people heavily compensated by the markets.

cragfar 4y ago

That is part of it, but fewer people are getting married and having kids which was one of the main drivers for buying a home. And job hopping is more common.

thaw13579 4y ago
It could go the other way as well, fewer people are starting a family because of the cost of housing.
- lotsofpulp 4y ago
  It could also be fewer people are willing to start a family because of the cost of a certain quality of housing, amongst certain other minimum standards of quality of life. For example, people might have been willing to raise kids while sleeping in a single bed in a single room apartment, possibly having to move multiple times. Now, you only have kids if you can secure a single family detached house with multiple bedrooms located amongst other similar or higher socioeconomic class neighbors (good school district), and at least one parent has reliable employment with health insurance benefits, which might mean living in a metropolitan area with limited housing supply.
- cragfar 4y ago
  True, but even in cities that had affordable housing there was a decline.

foobarian 4y ago

> where people want to live, there are restrictions on building adequate housing Sadly there is a bit of the reverse effect too, i.e. people want to live in places because there are restrictions on building.

zamfi 4y ago
> people want to live in places because there are restrictions on building This is a very strong claim that I would love to see even a smidgen of evidence for. And I don’t mean “people complain about density at local planning meetings” — that a vocal minority of residents don’t want their own individual neighborhoods to change is not a surprise, but it’s also not the case that most of those people move when density increases are approved.