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The NYT recently did a piece on how the tendrils of the housing crisis have made it out to places like Kalamazoo, MI that are not really traditionally high COL
by bobthepanda 2y ago
The NYT recently did a piece on how the tendrils of the housing crisis have made it out to places like Kalamazoo, MI that are not really traditionally high COL cities with booming economies. https://www.nytimes.com/2024/08/22/business/economy/housing-crisis-kalamazoo-michigan.html https://www.nytimes.com/2024/08/22/business/economy/housing-...
We are running out of cheap places to live in. Remote work has mostly pushed the crisis to other places without a corresponding pressure release in the high COL areas.
- bick_nyers 2y agoI can't read the article because of the paywall, but Kalamazoo is unique due to the Kalamazoo Promise, where college tuition (in the state of MI) is paid for if you attend Kalamazoo Public Schools. For me that was $60k of tuition I didn't have to take out loans for. Housing/grocery prices have gone up there but not nearly as dramatically as other places.
- WarOnPrivacy 2y ago> Kalamazoo is unique Our rents in Florida have doubled for unique reasons. My loved ones in VA, DE, MD, KY, NC and MI are seeing rents over 50% higher for reasons unique to each area. It kind of feels like a pattern.
- RhodesianHunter 2y agoHalf of builders went out of business in 2008 and 1/3 left the trades. We only just recently reached the level of new home starts we were hitting pre great-recession. We have a decade's worth of supply deficit and in most locale's aren't doing much to overcome this.
- reciprocity 2y agoWow, the Kalamazoo Promise has been going on since 2005. I wasn't aware of this program; that's very cool.