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> We're approaching a Neo-Feudalism society where the only people who will be able to afford to buy homes are those whose parents and grandparents were able to
by yodsanklai 3y ago
> We're approaching a Neo-Feudalism society where the only people who will be able to afford to buy homes are those whose parents and grandparents were able to buy homes.
Prices of homes vary greatly. If your parents owned an apartment in a unappealing town, that won't pay your bay area house. Conversely, you may not be able to afford a house in the bay area while working there, but save enough in one year to buy a house somewhere else.
- ghaff 3y agoAnd even this story mentions Zurich, Geneva, and Bern that I notices. Switzerland is expensive overall (and home ownership is low overall) but that major thriving metros in countries are expensive hasn't exactly been a surprise for a long time. I suspect it's easier to live in cheaper areas--even relatively nearby some metros--that may just not be a convenient daily commute to those metros. The Bay Area is somewhat unusual in that living 60-90 minutes away from the city mostly doesn't help you much.
- pllbnk 3y agoThat's why I think remote work could be a great equalizer. While understanding that not everyone can work remotely, it should be employer's obligation to prove that work must be done on-premise (factory workers, most service workers and so on). The rest could spread into areas that have not been considered attractive from the employment point of view for the past 20+ years. This raises valuations of property in those areas, brings in businesses, while at the same time reducing valuations of metropolitan areas. If only elected governments felt any kind of responsibility to make equality a priority.