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If the economy is that strong, why are housing prices outrageously high on either coast, where the jobs are? To paraphrase Jesus, it's not about Man serving the
by HarryHirsch 3y ago
If the economy is that strong, why are housing prices outrageously high on either coast, where the jobs are? To paraphrase Jesus, it's not about Man serving the Economy, it's about the Economy serving Man.
- laidoffamazon 3y agoJobs are everywhere in this country, there's a reason why the unemployment rate is so low!
- deleted 3y ago[deleted]
- johnnyanmac 3y agoCare to elaborate on this line of thinking? What jobs and where?
- HarryHirsch 3y agoDude is saying that someone who is works for 1h in a week is not included in the U-3 statistics. The wife is reviewing job applications for a teaching position at her institution. There are people applying who did decent work in the past and are now writing assignments for study.com. That's some serious underemployment visible there.
- nradov 3y agoIs the issue underemployment or elite overproduction?
- HarryHirsch 3y agoIt's lack of industrial policy, really, the fact that these people did good science until outsourcing started proves it. It's not cases of "got useless PhD at university no one ever heard of".
- kemotep 3y agoThese people are counted in the U6 figures. U3 is only people without a job who have been looking in the past 12 months and haven’t found a job.
- laidoffamazon 3y agoUnderemployment historically low right now, your anecdotes are meaningless against the real data.
- nradov 3y agoA strong economy tends to cause higher housing prices. When people have more money then they naturally tend to spend a lot of that on upgrading their living arrangements. Immigration is also a factor. I'm not trying to start an argument about immigration but the de facto open borders policy has brought in millions more people. That must have an effect, particularly at the lower end of the market.
- HarryHirsch 3y agoA strong economy tends to cause higher housing prices A look at the data will tell you that housing construction does not meet demand since in the mid-1980's (!): https://fred.stlouisfed.org/series/HOUST https://fred.stlouisfed.org/series/HOUST. It's now obvious to anyone that the policy failure has caught up with the nation. The problem is seriously compounded by the depopulation of rural areas and the fact that current new construction is not entry-level housing and never will be. You can't subdivide an exurban mansion into four apartments.