7 ms·
Maybe just reduce price?
by DataDaemon 2y ago
Maybe just reduce price?
- xadhominemx 2y agoMost of these homes are in regions with declining populations and scarce opportunity for employment.
- game_the0ry 2y agoThis would be a good argument for remote work -- let more worker WFH and they can buy those houses in the sticks.
- mlnj 2y agoBut then the expensive city commercial spaces will give the businesses more losses. Can't have that.
- chgs 2y agoGotta keep the Ponzi scheme of the stock market inflated. Without people pouring their earnings into it in the form of 401ks, the record highs can’t be guaranteed - whole thing will collapse.
- xadhominemx 2y agoRemote workers don't want to live in run down rust belt and rural communities
- toomuchtodo 2y agoThere is evidence they want to move where housing is affordable, including parts of the rust belt and rural communities. https://www.yardikube.com/blog/remote-workers-leading-the-migration-across-state-lines/ https://www.yardikube.com/blog/remote-workers-leading-the-mi... https://www.wcnc.com/article/money/charlotte-north-carolina-affordable-housing-remote-workers-relocate-for-cheaper-homes/275-0a5fdd5e-5626-4c3e-a8a4-8af1d37c3fa4 https://www.wcnc.com/article/money/charlotte-north-carolina-... https://www.fanniemae.com/media/48891/display https://www.fanniemae.com/media/48891/display https://www.americanexperiment.org/study-finds-that-remote-work-is-allowing-people-to-move-to-cheaper-rural-areas/ https://www.americanexperiment.org/study-finds-that-remote-w... https://web.archive.org/web/20230127175520/https://www.ruralmn.org/the-state-of-rural-2023/ https://web.archive.org/web/20230127175520/https://www.rural...
- gopher_space 2y agoFat pipes and buying your eggs from a neighbor sound like a good combo to me.
- deleted 2y ago[deleted]
- FredPret 2y agoEnter WFH
- trzy 2y agoWhy would I want to work from home in a terrible location?
- jwally 2y agoPay off debt?
- bialpio 2y agoTo save more money and retire early?
- FredPret 2y agoThere's a vast amount of non-terrible space that used to be uninhabitable due to zero economic activity
- AnimalMuppet 2y agoIf you're one of the people who keeps complaining about how you can't afford a home, maybe you'd prefer it to renting for the rest of your life. And, if you consider everywhere that you can remote work from to be "a terrible location", then I suspect your definition needs adjusted...
- happytoexplain 2y agoThis comment only makes sense if you are assuming a significant majority of these places are "terrible", which is baffling to me, unless you are silently using your personal preferences to define "terrible" in the context of the larger conversation.
- micromacrofoot 2y agothe people able to work from home are often incredibly well paid and are eating up real estate in expensive areas there's no significant work from home initiative at the lower end of the pay scale if anything wfh has exacerbated the problem, wealthier tech employees are living in desirable cities while people making less and have to go to the office don't have access to local-to-work real estate
- altdataseller 2y agoso maybe just lower the price some more?
- happytoexplain 2y agoYes - the housing crisis is a chicken and egg problem. How do we get people to create opportunities in places where there are few workers? How do we get workers to move into places where there are few opportunities? I am not educated on this, and it's not a problem intrinsic to modernity, so how has this problem been solved historically? Does it really just boil down to "it happened slowly"?
- brewdad 2y agoThere are towns in rural Italy where you can buy a house for €1 if you promise the fix it up and live there. Still there are few takers. It’s a tough problem to solve.
- bialpio 2y agoItaly has a reputation for its slowly moving bureaucratic machine though, so the issue may be more complex than just looking at the price. This offer would be more attractive for me if it didn't potentially come with hidden strings attached (do you need to work with an institution tasked with preserving old buildings? what are the permitting requirements? will it take ages to get approval to do anything?). People in Italy probably know answers to those questions, but as a foreigner slowly thinking about a place in Europe to settle in, those would be things that'd made me think twice about taking up that offer.
- tcmart14 2y agoDefinitely. And if I had to take a guess, yes, it happens slowly. I guess we could use Detroit perhaps as an example. Booming, industry sorta crumbled there, made it no longer desirable. Because of that, Detroit for a city has become cheap and to my understanding it is now experiencing a boom? So it maybe it just takes awhile because a correction needs to take place to make it cheap enough for people to move back in? Then I would guess there is also a, enough time needs to pass for a particular perception to fade.
- fluoridation 2y agoAs far as I know, historically it wasn't fixed. People didn't live just anywhere they wanted, they lived where there were exploitable resources, be it farmland, mines, or what have you. If the resources dried up the city simply ceased to be. The idea of creating opportunities where people live can only exist within tertiary and quaternary economies, possibly in secondary. Until about two or three hundred years ago nearly all economy was primary, with a small secondary sector right next to where the resources were extracted (because logistics also wasn't as advanced as what we have today; it didn't make sense to move raw materials very far).
- goodluckchuck 2y agoWhich, isn’t necessarily a bad thing. Modern residential (and small scale commercial) construction is designed for a 30-50 year useful life. The structure may be worth renovating if the location / design remain relevant, but it’s not like there’s a huge amount of wasted value. A larger waste would be encouraging labor to be under-utilized.
- FactKnower69 2y agocompletely untrue factoid that constantly gets repeated for some reason, there are 3 vacant units per homeless in Los Angeles for example https://gigafact.org/fact-briefs/are-there-more-vacant-homes-homeless-people-los-angeles https://gigafact.org/fact-briefs/are-there-more-vacant-homes... the ratio is about the same in New York City proper, and if you include the entire country, the ratio skyrockets to >27 vacant units per homeless person https://www.self.inc/info/empty-homes/ https://www.self.inc/info/empty-homes/
- xadhominemx 2y agoSo the LA Metro has 8% of the population of the US and 2% of the vacation homes?
- happytoexplain 2y agoIf the ratio is 3:1 in major cities, and 27:1 nationally, wouldn't that logically mean that most of them are not in major cities, per-capita (and perhaps absolutely too, I don't know)? Of course that doesn't necessarily mean they are in areas of "declining population and scarce opportunity", but your premise appears to be that a majority of vacancies in cities would be a counter-example.
- some_random 2y agoThe very first sentence of this article is "There may be a massive housing crisis boiling up in the United States mostly centered around the unavailability of homes in the largest metros of the country."
- xadhominemx 2y agoYes, there is a shortage of housing in the largest metros. The unoccupied homes are in small towns with declining populations.
- micromacrofoot 2y agono reduce price, only subsidize demand