3 ms·

We should also build more housing!

• nomel 2y ago
  That's another significant problem. Any dense housing built near the city is, necessarily, corporate built, due to initial costs. The ability to own these units is disappearing [1], with much more profit being found by renting. This means that moving near a city is, almost always, a 100% loss, where you burn your housing cost every month, rather than building equity with something you can own some commute away. This adds significantly more cost to the short commute, if you plan on living in the same place for a while. [1] https://www.ppic.org/blog/multi-unit-housing-is-becoming-more-common-but-has-low-homeownership-rates/ https://www.ppic.org/blog/multi-unit-housing-is-becoming-mor...
  • pjc50 2y ago
    > where you burn your housing cost every month As opposed to travel cost? (yes, it's a really stupid situation that renting a house is far more expensive than renting some money for thirty years)
    • nomel 2y ago
      My cheap gas car gets 40mpg on the freeway. With our roughly $5.30/gallon cost here, a 40 mile one-way commute is around $300/month. That's < 1/10th the housing cost for living near work. If free electric charging is available where you work, you can save even more by buying a low range, used, electric that nobody wants. I picked one up for $8k. The savings will pay it off in a few more years.