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Alternately: what happens when a whole generation never gives up control and prevents most born after them from aquiring housing or currency by creating an regu
by superkuh 2y ago
Alternately: what happens when a whole generation never gives up control and prevents most born after them from aquiring housing or currency by creating an regulatory environment and economy rigged to only benefit corporations they own? But sure, blame this on the youths again, as is tradition.
- hdjjhhvvhga 2y agoI don't like the narrative of generation divide, it's those who own vs those who rent. It's been like this for a couple of centuries and in several countries ended up in revolutions.
- xnx 2y ago> it's those who own vs those who rent Or those with pensions vs. those without
- blacksmith_tb 2y agoPensions? Not in the US - they're practically extinct [1]. Of course that means that people can be blamed for not saving in their 401k-s, which is also convenient. 1: https://www.usatoday.com/story/money/2024/03/19/pensions-are-popular-why-dont-more-americans-have-them/72968970007/ https://www.usatoday.com/story/money/2024/03/19/pensions-are...
- bryanrasmussen 2y agoYour comment seems a bit weird as it implies a whole generation owns corporations.
- mrfox321 2y agoWho do you think the shareholders are? What demographic are they?
- sosborn 2y agoDo you think it's a generational issue, or a class issue?
- superkuh 2y agoExactly. It's not the fault of the youths and it's not the fault of the old. Both it and mine are obviously false claims yet one is accepted as a WSJ article and one is pointed at as silly. My "alternately" was not to say that the alternate was an accurate description of reality but only to highlight how silly such broad statements are when you look from the other end.
- lifestyleguru 2y agoOver here would be "What happens when real estate is the only investment vehicle without capital gains tax?"
- johnea 2y ago[flagged]
- scarface_74 2y agoIs it that people can’t buy a house or that they can’t buy a house where they want to live? There is a vast swaths in the US where your average worker could buy a house in middle America based on wages they could make there.
- slv77 2y agoHousing prices relative to income have gone up pretty much nationwide: https://www.jchs.harvard.edu/blog/home-price-income-ratio-reaches-record-high-0 https://www.jchs.harvard.edu/blog/home-price-income-ratio-re...
- scarface_74 2y agoIn many of the areas I am talking about teachers, lawyers, doctors, pharmacists, policemen, other government workers, etc can affordably buy a house in those areas.
- slv77 2y agoHousing prices have historically been highly correlated with income and interest rates. That correlation seems to have broken down. There are areas where it still is sane but much less of them than historically and concentrated in areas with very little population.
- anotherhue 2y agoRTO throws a wrench in most of those plans. As does the bleak reality that the opiod crisis or similar is often the reason for the low price. Is it worth $500k to not have your kids live in fear of loonies on their steet? Hard to say it isn't if you can possibly manage. Investment idea : buy a bunch of homes in troubled areas and then build a mental health facility. Resell them as a safe neighbourhood.
- scarface_74 2y agoI tried to focus on office jobs because I realize it’s a privilege to work remotely that most people can’t do. If you were a teacher, do you think it would be easier to find a nice home in Brookton South Dakota or San Francisco California? And I’m not trying to come across as being pro or anti rural America. I’ve lived in major metropolitan areas my adult life. But I’m from and still visit family in south GA. On the other hand, drugs are endemic everywhere in the US. I know a few middle class families with teenagers and their relatives struggling with heavy drugs - not just weed.