3 ms·
The issue is absolutely supply and demand for houses, otherwise housing would be affordable for more people. Housing markets are local. Their supply and demand
by api 3y ago
The issue is absolutely supply and demand for houses, otherwise housing would be affordable for more people.
Housing markets are local. Their supply and demand dynamics are local. Affordable housing in Kentucky does not help people in San Francisco or Seattle unless everyone can telework.
Unaffordable housing is a major contributor to inability to build wealth. In most cases it’s no high paying jobs or unaffordable housing, pick one.
- sokoloff 3y agoIt’s not needed for everyone to be able to work remotely. A large subset of people being able to do so should make affordable housing in one location be helpful in other areas. It takes time and confidence that the remote work is widespread and durable, but it doesn’t have to be across every field.
- red-iron-pine 3y agoeven 5-10% going permanent remote could shift the housing market dramatically. doesn't have to be "moving to rural Montana" just a couple hours out of a city, and that would open up the market.
- peoplefromibiza 3y ago> In most cases it’s no high paying jobs or unaffordable housing, pick one isn't this another effect of inequality of wealth distribution? Suppose you live where high paying jobs are, but people getting high pays contribute proportionally and schools, medical bills, etc. are affordable, there would be a lot more families that could funnel the money saved to housing, instead of having to chose.
- carlosjobim 3y agoHousing is unaffordable for labourers everywhere. The main reason people move into the expensive cities chasing the high paying jobs is because they cannot afford to live in the rural communities or small town they grew up in, since wages there have stayed low while cost of real estate has exploded.