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In all of these conversations no one is mentioning income inequality. I see housing unaffordability to be symptom of this. The transfer of wealth to the highe
by doug_durham 3y ago
In all of these conversations no one is mentioning income inequality. I see housing unaffordability to be symptom of this. The transfer of wealth to the highest income Americans has been constant for the last several decades. We are now seeing the impact of this. The significant number of Americans don't have meaningful savings. How can they be expected to afford a house?
- friend_and_foe 3y agoThe transfer of wealth to the highest income people has been a thing for all of time. High income == transfer of wealth. They're literally two different ways to say the exact same thing. How can they be expected to afford a house? The same way they were in the past. A house is a plot of land with some sticks bundled up to create a shelter, with some added amenities like a toilet and an air conditioner. There's no reason that something like that should cost what it does. There's also no reason that a bunch of wood exposed to moisture and termites should appreciate in value over time or be viewed as an asset. Yet here we are.