3 ms·

It appears that areas where ownership are within reach of single income families is shrinking rapidly.

MichaelZuo 3y ago
Not according to the metrics I've seen. The total acreage of all desirable neighbourhoods in the US beyond the reasonable means of a couple with MANGA compensation is not even 1000 square miles. Unless you know of some source?
- lostlogin 3y ago
  I live in New Zealand. The average house price is nearly NZ$900k, with the big cities being more. The median wage is about NZ$63k. Jobs, family etc are around the cities. There is a minimum deposit requirement before you can get a mortgage (at 20% or less it’s hard but possible. Below about 5% no one will lend). Houses are way overpriced and average quality is low (insulation, heating/cooling, water tightness etc). Paying for a house on a single income is out of reach for huge swathes of the population and would also leave a household vulnerable if the earner was unable to work. Your ideal of paying for a house with one wage is something left behind in 1950 New Zealand. Jobs, children, lifestyles etc are all dictated by rent and mortgage requirements. It’s depressing how inflated housing costs are. https://www.qv.co.nz/price-index/ https://www.qv.co.nz/price-index/ https://www.newzealandshores.com/new-zealand-job-search/salaries-new-zealand/ https://www.newzealandshores.com/new-zealand-job-search/sala... https://www.westpac.co.nz/home-loans-mortgages/first-home/kiwisaver-and-low-deposit-options/ https://www.westpac.co.nz/home-loans-mortgages/first-home/ki...
  - MichaelZuo 3y ago
    Did you respond to the wrong comment? I mentioned 'means of a couple', explicitly not one wage.
- paulryanrogers 3y ago
  MANGA compensation (~$180K) is far outside the median income for a single income household in the US (~$70K).
  - MichaelZuo 3y ago
    So what? The same logic still applies. There just aren't that many unusually desirable neighbourhoods, most are clustered around the average. Obviously, most average families can't actually end up living in neighbourhoods of above average desirability by definition.

Not according to the metrics I've seen. The total acreage of all desirable neighbourhoods in the US beyond the reasonable means of a couple with MANGA compensation is not even 1000 square miles. Unless you know of some source?

lostlogin 3y ago
I live in New Zealand. The average house price is nearly NZ$900k, with the big cities being more. The median wage is about NZ$63k. Jobs, family etc are around the cities. There is a minimum deposit requirement before you can get a mortgage (at 20% or less it’s hard but possible. Below about 5% no one will lend). Houses are way overpriced and average quality is low (insulation, heating/cooling, water tightness etc). Paying for a house on a single income is out of reach for huge swathes of the population and would also leave a household vulnerable if the earner was unable to work. Your ideal of paying for a house with one wage is something left behind in 1950 New Zealand. Jobs, children, lifestyles etc are all dictated by rent and mortgage requirements. It’s depressing how inflated housing costs are. https://www.qv.co.nz/price-index/ https://www.qv.co.nz/price-index/ https://www.newzealandshores.com/new-zealand-job-search/salaries-new-zealand/ https://www.newzealandshores.com/new-zealand-job-search/sala... https://www.westpac.co.nz/home-loans-mortgages/first-home/kiwisaver-and-low-deposit-options/ https://www.westpac.co.nz/home-loans-mortgages/first-home/ki...
- MichaelZuo 3y ago
  Did you respond to the wrong comment? I mentioned 'means of a couple', explicitly not one wage.
paulryanrogers 3y ago
MANGA compensation (~$180K) is far outside the median income for a single income household in the US (~$70K).
- MichaelZuo 3y ago
  So what? The same logic still applies. There just aren't that many unusually desirable neighbourhoods, most are clustered around the average. Obviously, most average families can't actually end up living in neighbourhoods of above average desirability by definition.