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>How did those 5 million better-paid jobs got created? I don't think that matters in this argument because the author assumes that housing prices will rise, wh
by Aunche 3y ago
>How did those 5 million better-paid jobs got created?
I don't think that matters in this argument because the author assumes that housing prices will rise, which would only be possible if there is growth in desirable jobs. If 5 million high paying jobs don't get created, you don't have to worry about rising home prices because very few people would want to live in a place more expensive place on the same income. Instead you'd have a situation like Tokyo where housing prices don't rise.
>I've known a lot of people in rural areas years ago
They are alluding to suburban rather than rural migration. Your average country folk isn't going to suddenly decide to move to NYC. You need about 30 acres for an indefinite supply of firewood. You're probably not going to able to aquire that much land within a reasonable distance of an office, and if you can, you'd be wasting a lot of energy with commuting.
- pdimitar 3y ago> Instead you'd have a situation like Tokyo where housing prices don't rise. Agreed, that's what I am arguing for in fact. Prices either rise or stagnate, but for them to actually drop... it takes a while until the people who are very invested in the constant growth of the market to realize things don't always work that way, and correct their prices more in tune with reality. Again though, it takes a long time. > They are alluding to suburban rather than rural migration. Ah, fair. Suburban living was economically viable for one brief dreamy moment in time but I am afraid it has not been that for a few decades now.