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High-income job losses are cooling housing demand
- engineer_22 11mo agoWe're in a recession.
- pinkmuffinere 11mo agoSomeone please tell the stock market, I moved my investments to be more risk averse and it hurts to watch the green line go up.
- wetpaws 11mo agoStock market is not the economy
- outside1234 11mo agoThe market can stay insane longer than you can stay insolvent. Also, its possible that the market thinks job losses are good (aka that AI is replacing jobs)
- reactordev 11mo agoThe brutal truth… Stocks go up, wages and income go down, things keep on keeping on because AI has quietly replaced you.
- jvanderbot 11mo agoFirst time?
- iwontberude 11mo agoExcept in reality this isn’t happening outside of press releases. God y’all drank the koolaid.
- thatfrenchguy 11mo agoThere is generally no point in doing this, keep a constant asset allocation that match your risk appetite, otherwise you're just playing the casino.
- caminante 11mo agoTiming the market is bad, but I'm reading "risk averse" as selling equities and buying bonds. The problem is that this recent equities run has been extra terrible for more conservative 60/40 portfolios [0]. [0] https://www.morningstar.com/economy/6040-portfolio-150-year-markets-stress-test https://www.morningstar.com/economy/6040-portfolio-150-year-...
- dboreham 11mo ago> selling equities and buying bonds There's an intermediate option: sell high P/E stocks and buy lower P/E stocks with dividend paying history. There are ETFs designed for this purpose too.
- tossandthrow 11mo agoThat is also what I read in going risk averse. In particular bulking up in EM, EU, and small cap. And slimming down in us large cap.
- caminante 11mo agoUhhh...you're describing something like QAI? [0] And you're going to short a portfolio of TSLA, NVDA, AMZN, META, GOOGL, MSFT, AAPL, NFLX, AMD...? That's crazy. [0] https://finance.yahoo.com/quote/QAI/ https://finance.yahoo.com/quote/QAI/
- pinkmuffinere 11mo agoI am indeed short TSLA (or rather, am taking an inverse position), and have greatly reduced my exposure to NVDA, AMZN, META, MSFT, and AAPL. I keep some exposure to GOOGL, NFLX, AMD, because I believe they are going to "win" in their industry in the long run. I plan to keep exposure to them for like 10+ years. I have a blog post about the inverse TSLA position here: https://bagelpour.wordpress.com/2025/11/30/taking-an-inverse-position-on-tesla/ https://bagelpour.wordpress.com/2025/11/30/taking-an-inverse...
- anonymars 11mo agoThey say time in the market generally beats timing the market
- alistairSH 11mo agoAlmost all of the gains on SP500 are from 7 stocks - I'll let you guess which 7. The market overall is nowhere near as exuberant. https://www.washingtonpost.com/business/2025/11/24/sp500-stock-market-tech-nvidia/ https://www.washingtonpost.com/business/2025/11/24/sp500-sto...
- stego-tech 11mo agoYou and me both, but working poors like us should be investing for long-term gains, not short-term returns. I put my money into bonds and international indices because I want to be better protected when the AI CAPEX bubble pops here, but I have no idea when that’ll happen. We can’t time the market, but we can protect the scraps we’ve accumulated at least.
- QuercusMax 11mo agoI saw HUGE ramen displays yesterday at Safeway, including some of the less common flavors like blue (Soy Sauce, formerly "Oriental") and yellow (Creamy Chicken). I can't find the blog post from the last major recession where people were talking about all the crazy flavors you only see when the economy is REAL bad.
- bluedino 11mo agoI was always taking noodle bowls to work. Fill with water, microwave, enjoy at my desk. A dollar or two. Couldn't believe how many people would go to the sushi restaurant at the base of the building and spend $25 on lunch a couple days a week. Yikes.
- foogazi 11mo ago> Fill with water, microwave, enjoy at my desk Getting lunch with coworkers once in a while doesn’t hurt
- bluedino 11mo agoSure. And there's also shared lunchroom areas you can take your own lunch to.
- kulahan 11mo agoIt's not nearly as filling, but I saw a character on TV smashing up their noodles and pouring in the powder, shaking the bag, and eating them like popcorn. I've become incredibly addicted.
- potato3732842 11mo agoPrepare it and eat it per the instructions and it's infinitely more filling. Also there's fairly wide variance in calorie count brand to brand for the same size square, not sure why.
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- micromacrofoot 11mo agoobjectively we're not yet, but things are certainly weird
- mistrial9 11mo agobifurcation, and more
- andrewstuart2 11mo agoObjectively, I'm not sure we can reliably say any longer, given how much pressure has been put on formerly objective reporting agencies to conform to this administration's narrative.
- micromacrofoot 11mo agowe can, there's a specific definition that hadn't been met yet
- rvz 11mo agoWe were already in one following the tech correction since Nov 2021. [0] The problem here is some waited for too long to be told we are now in a recession, then some politicians tried to redefine it. But that is nothing compared to what will happen in the next 5 - 10 years. Nothing goes up forever. The only hint is that we need to prepare before 2030. [0] https://news.ycombinator.com/item?id=29508238 https://news.ycombinator.com/item?id=29508238
- anonymars 11mo agoNot for nothing--I'm no optimist either--but, by what measure? I see at most one quarter of negative GDP[0]. The US market is up at least 50% since then. [0] https://fred.stlouisfed.org/graph/?g=1OmuJ https://fred.stlouisfed.org/graph/?g=1OmuJ
- newsoftheday 11mo agoGemini, ChatGPT, Claude and Grok all said no, we're not in a recession just now when I asked them.
- newsoftheday 11mo agoGemini, ChatGPT, Claude and Grok all said no, we're not in a recession just now when I asked them.
- potato3732842 11mo agoThe illustration is misleading because it forces things into three buckets, two of which are colored to indicate "not good". But still, that bottom right corner of the graph is telling. Also pretty disgusting to me that healthcare is "growing faster than normal" across the board. You'd think it'd be "growing the normal rate" at least somewhere. It's not like population is growing faster than normal across the board. Isn't 20% of the GDP enough for an industry that's fundamentally a cost center of society? Wars have been fought over less.
- bell-cot 11mo agoHealthcare is a non-negotiable way to extract money from people. And the industry is swimming in opaque complexities, IP, monopolies, monopsonies, and sweetheart regulation. Why the h*ll should they limit themselves to a mere 20%?
- bluGill 11mo agoThe large baby boomer generation is getting old, and thus their costs will go up just by nature of old people needing more. They are also realizing that health is the largest factor in how long they will live (not to mention that they likely started smoking before people realized how harmful it was - most have long quit but with unknown damage done. There are other choices that they often made that are now questionable) Which is to say I expect spending to go up just for demographic reasons of large numbers of people starting to care. Don't confuse this for thinking all is well with health care costs.
- doctorpangloss 11mo agoWhat’s the maximum price you’d pay for a cure to a rare, fatal pediatric disease? Answer this question, and you’re on the journey to the solution to the problem you are talking about. Tell me some BS why the question doesn’t matter or is wrong or whatever, and discover why “Dunning Kruger” is at least part of the answer.
- potato3732842 11mo ago>Answer this question, and you’re on the journey to the solution to the problem you are talking about. Tell me some BS why the question doesn’t matter or is wrong or whatever, and discover why “Dunning Kruger” is at least part of the answer. I posit that the people who hold an ideology, moral compass, world view, or whatever else you want to call it, that permits the question to even be framed in this way are a root problem exacerbating many other problems in society, healthcare likely being one. I don't know what the "solution" is but the fact that ~1:5 dollars in this country is spent on maintenance of the human body is just wild and likely unsustainable or indicative of some gross error in how we measure such things.
- monkeydust 11mo agoAny evidence if this is global trend in developed countries?
- nemomarx 11mo agoAll of the examples in the article seem to be the us, so I think they're only looking at local trends. Are other developed countries firing people in the same way rn?
- deleted 11mo ago[deleted]
- mcdonje 11mo agoBut will lower demand coupled with still high interest rates actually lead to reduced housing prices?
- etchalon 11mo agoIt has in several cities, including Austin, where I live.
- ortusdux 11mo agoZillow publishes some interesting data: https://www.zillow.com/home-values/10221/austin-tx/ https://www.zillow.com/home-values/10221/austin-tx/ https://www.zillow.com/home-values/102001/united-states/ https://www.zillow.com/home-values/102001/united-states/
- Workaccount2 11mo agoWhat's fascinating to see is that around me the wealthy towns are seeing 6-7% annual appreciation whereas the lower middle class towns are in the 2-3% range. K-shaped economy and all that I suppose.
- taeric 11mo agoIsh? Look into towns that didn't have a high reliance on tech. In particular, look for ones that didn't ride the rollercoaster of really high wages that a lot of tech drove and is now flattening off. Looks like shipping is also an industry that you probably don't want to track on this search. Other than that, places that saw modest wage growth saw similarly modest housing cost growth. And haven't seen it fall back, yet.
- TrainedMonkey 11mo agoI feel like 50% of that is explained by the luxury housing build out bubble in Austin specifically.
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- georgeburdell 11mo agoAnecdotally, in my corner of the Silicon Valley, I've been looking to trade up homes from my 7/10 district to a nearby 10/10. Over the last year, I've seen the comparable properties in 10/10's rise about 10%, while my 7/10 has gone down about 5%. Both areas are very short commutes to high tech.
- varenc 11mo agoTalked to a real estate agent recently and she mentioned a similar trend in the bay area. "Luxury homes", $3M+, are hot right now with prices risings. Whereas lower cost non-luxury homes are seeing less growth. It's a weird world.
- nemomarx 11mo agoK shaped economy I guess? More and more spending is driven by the top, so maybe housing that aims to capture that still sells fast but more normal housing struggles
- blackjack_ 11mo agoThings are visibly cooling up here in Marin, houses are actually sitting on the market (even just at the end of last year houses were generally scheduling offer dates and picking the best one). Some of this is just seasonal cooling, so I'm wary to draw any larger conclusions... but I'm seeing a lot lot more `for sale` signs than I'm used to.
- jandrese 11mo agoMore evidence of the hollowing out of the middle class.
- harmmonica 11mo agoA drop in housing prices might be the only silver lining if an actual recession hits (whether the official statistics will actually admit to a recession is debatable of course). That said, even if housing prices drop materially and eventually bottom it will provide little opportunity for "normal" folks to buy in if they're jobless. Will be interesting to see if Fed interest rate cuts translate to mortgage rate cuts, and whether those rate cuts lessen any price drops. I've said this before on here, but the historical price-to-income for housing has been something like 4x. Today it's 7x (that is as insane as it sounds). A long way to revert to the mean unless you really think "this time is different."
- mcny 11mo agoWhat I am worried about is won't building new homes slow down to a crawl or stop completely if the r word is confirmed?
- jfghi 11mo agoI think with the amount of corporations and existing homeowners buying homes that the demand is strong enough to keep prices high no matter what happens. There are billions of dollars set aside to gobble up homes in the event of a price drop. In my area, 20 percent of homes are owned by investors and realtors delist homes that don’t sell as opposed to drop price.
- phantasmish 11mo ago> In my area, 20 percent of homes are owned by investors and realtors delist homes that don’t sell as opposed to drop price. This has been so weird to see over the last couple dips. In the ‘08 crash, banks were sitting on houses that were developing mold issues because they had been sitting vacant so long. These houses were getting more damaged and less desirable by the day, and before long would require hundreds of thousands of dollars to fix (up from the low-tens already evident) but they still preferred to sit on them. They weren’t listed, or were listed but at too-high prices and they were just ignoring offers, not even responding. Then you look at “depressed” housing prices that are still way over historic norms, so you’d think builders would keep going… but no, they totally halt all work, no new houses until prices are heading up again. Something’s super messed-up about the housing market in ways that it wasn’t in the last millennium. Recessions don’t even fix it, they just make everything pause.
- francisofascii 11mo agoThe post doesn't have housing data to back up the claim, but the job growth by city is interesting. HCOL cities like DC and SF in the red, as you would expect. Government jobs down in DC is expected, but mostly green in other cities? What is Philly and New York doing right?
- trashface 11mo agoThe article notes that Philly and also NY underperformed in last few years so really they are catching up to baseline. As a resident of the philly suburbs this matches my lived experience - there has been something of a jobs bubble (at least for some demographics, in some industries) since covid ended but for the decade before that the areas was economically stagnant.
- deleted 11mo ago[deleted]
- lvl155 11mo agoBoston is seeing some headwind especially from slowdown in biotech, the main driver of growth over the past decade or so. Rents are also down. However, worth noting supply is still constrained especially if you exclude replacement-ready homes.
- stego-tech 11mo agoCan confirm, this is where I’ve spent four years trying to buy a starter (2BR/2BA) home in on a single income. The biggest problem in older markets is that most housing stock is of appalling quality, requiring another five to six figures of work to get into a modern, habitable shape - unless you do the work yourself, which most can’t while they also hold down a FTE gig and deal with the return of urban commuting. It’s bad.
- phantasmish 11mo agoA lot of lower-end housing spends some years in the hands of people who can’t afford to keep up maintenance, and/or are too old to keep up with it well (… or to keep up with cleaning). As a result, it’s all but ruined by the time someone else gets a crack at it.
- stego-tech 11mo agoYep, and a lifetime spent moving every few years (and my obsession for details and desire to understand how everything works) means that I can see the chasm between what properties are actually worth versus what folks are asking for. I’ve seen some really pricey nightmares these past several years ($650k for a 1400sqft home with knob-and-tube electrical wiring and an honest-to-god fire bucket in the basement next to the oil heater!), and I cannot afford to take such extreme risks on the most expensive purchase I’ll likely ever make in my life. It sucks.
- tayo42 11mo agoPeople get pissy about flippers but there is some scary stuff out there I don't think anyone really wants to deal with
- stego-tech 11mo agoCan confirm via my own experiences. Had a job in a SV firm, and paid just barely enough to try and get on the housing ladder. Four years and a 40-60% price increase later, and I got laid off without managing to successfully buy a home. Since the layoffs, I’ve taken a sizable paycut (~$75k TC) to make ends meet with whatever I could find, but kept a pulse on the market in case things turned around. Locally, rents have gone down by ~$100-$500 a month (depending on when you renew) with one to two months free rent, while home prices have finally stopped rising. Homes are staying on markets longer, and bidding wars have dried up. I get about one to three price cut messages a day from Redfin, though nothing in my area or price range post salary cut. Unfortunately, I don’t expect this trend to continue. My landlord just introduced a new RealPage-alike to keep rents high, local developers have put a hold on new housing construction as resources get consumed for AI datacenters, and the same old red tape blocks meaningful progress in addressing availability gaps. The only real bright spot is that renters are pushing for statewide rent caps and controls with better progress than ever before, so there might be some relief in sight next election. It’s bad out there, ya’ll.
- monero-xmr 11mo ago[flagged]
- jacquesm 11mo agoYou are mistaking your own opinion for a generalized truth.
- deleted 11mo ago[deleted]
- jwilber 11mo agoYou work in tech and are somehow convinced working on a blockchain app is a good thing? We should make employees pass a basic economics test!
- varenc 11mo agoIf you're currently renting, and expect to keep renting for a long time, state-wide control does seem in your interests? It might ultimately depress new construction and certainly isn't good for landlords, but makes sense to me a renter would want rent control.
- jacquesm 11mo agoCrashing the economy is of course going to have knock on effects. I don't think anybody should be surprised by this? Housing is essentially a bottomless pit when the economy is good, it can sink any amount of money because it is an absolute necessity. So when people have money they'll use it to bid against each other for a scarce resource. But when the economy pauses or even starts to shrink then that surplus evaporates and one of the first indicators that this is happening is the demand for housing. Usually the result will be some price adjustments and after that it is business as usual. But if the cuts go deeper then there may be more substantial effects. The only thing that is holding the US economy afloat right now is the fact that there are still a couple of levers of power that Trump hasn't gotten his fingers on. When and if that happens I fully expect things to go into freefall.
- dboreham 11mo agoHaving been shafted in three housing boom cycles, I'm somewhat eagerly awaiting the crash this time so I can buy something at a discount.
- jacquesm 11mo agoThat's one way of looking at it. In a crisis when you're on the buying side it can benefit you, but there will always be someone holding the bag on the other side of that deal.
- bravetraveler 11mo agoI've had a high-income job (career?) for two decades... and while I'd love a house, the realized demand is zero. The thumb remains. Case in point, the RTO fad. No certainty. I know at least three executives who were forced to move after building new homes.
- phendrenad2 11mo agoExecutives forced to move after building a house. That really shows how desperate companies are to keep the lights on. Nobody pisses off the execs... unless the companies have ceased to operate normally as businesses, and are now hollow shells propping up an illusory stock market.
- bravetraveler 11mo agoDesperate for lights, petty punishment, hard to tell. Point being... keeping options open has rarely done poorly. Doesn't feel like the time to commit. Not convinced it ever will. edit: I hear someone now, "If that happens to you, sell the house!"... I'd like to stick with one career, thanks.
- claudiulodro 11mo agoI did it the other direction -- I bought a relatively cheap house, and if the winds of change come, I would rather get a different career than location! Two different equally valid perspectives IMO, as long as you're not dependent on having a particular career in order to make your house payments.
- bravetraveler 11mo agoGood point, not good to be so dependent on a career. I'm almost there; useless without a computer involved. Eager to change the location one more time to somewhere affordable. The city is wasted on me. A career change may be earlier than expected with the LLM craze.
- hn_throwaway_99 11mo ago
- narcindin 11mo agoSad to see Healthcare and government employment growth outpace everything else. If we're all nurses or regulators who will build our country?
- phantasmish 11mo agoHealthcare employment’s guaranteed to keep rising until they’ve soaked up all the would-be inheritance from the Boomers. Millennials are a large cohort, too, so it may stay steadily high for a good long while after that, after perhaps a small dip for X. Depends how much money they have for the healthcare sector to scoop up. Savings-at-same-age has been really bad for them relative to boomers, so we’ll see. May see healthcare employment shrink even as need (sans the dollars to back it up) grows, next time a demographic “lump” gets old.
- baiwl 11mo agoWelcome to Europe. As an example, in Spain, there are 500K more people living off the government than working in the private sector: https://theobjective.com/economia/macroeconomia/2024-09-16/ayudas-sueldos-publicos-nominas-privado/ https://theobjective.com/economia/macroeconomia/2024-09-16/a...
- nitwit005 11mo agoThe general trend of government employment hasn't been all that exciting: https://www.pewresearch.org/short-reads/2025/01/07/what-the-data-says-about-federal-workers/sr_25-01-07_federal-workers_1/ https://www.pewresearch.org/short-reads/2025/01/07/what-the-... But, yes, the plan does seem to be that we all go broke attempting to get health care.
- cal_dent 11mo agoThe bigger concern is that we've steadily been going from a circa 4:1 ratio of worker to non-worker to closer to 2:1 ratio. For an economic system based on workers paying the way for non-workers that is toxic. We've royally screwed up immigration, which could have helped, so all we have left is hoping for a hail mary huge productive boost or might as well shut up shop and figure out a new model
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- mvkel 11mo agoThere's an interesting housing arbitrage happening right now. Townhomes are still selling for over asking, but single family homes -- ones that older, middle-management types would live in -- aren't receiving competitive bids.
- etrautmann 11mo agowhat location?
- mvkel 11mo agoDC
- websiteapi 11mo agoIf this - "High-income job losses are cooling housing demand" is true, doesn't this mean UBI would never work?
- nilamo 11mo agoI don't see how one follows the other. On the one hand, less high earning employees seems to logically indicate that large purchases would also go down. And on the other hand, a program to give everyone a little eating money would never have been able to pay for a house, anyway.
- TuringNYC 11mo ago>> If this - "High-income job losses are cooling housing demand" is true, doesn't this mean UBI would never work? If UBI were national, it would work beautifully, because depending on the UBI amount, it could allow people to finally untether geographically. You could spur a rebalancing of irrational demand in HCOL cities due to jobs away from HCOL to LCOL
- deleted 11mo ago[deleted]
- spike021 11mo agoI'm teetering on the edge of being able to afford a small condo (a small SFH would be nice but not as much supply) in the Bay Area (SF). However, I keep thinking about how someone I know was laid off last year only two months after buying their first home. I'm a SWE making OK money here but not FAANG/unicorn-level, so it's tough to imagine buying and then being on the hook for a mortgage without a job even with some savings.
- klysm 11mo agoYou could probably afford some really nice property not in the bay area then.
- OptionOfT 11mo agoI was laid off 35 days after closing. Absolute hell. Now, thankfully we didn't over-extend, and live by the at-least-6-months-of-savings. We made it through, but just writing this down makes my heart rate spike.
- spike021 11mo agoexactly what I'm afraid of! Glad to hear you made it through.
- harmmonica 11mo agoI hate to repeat this old adage, but in case it helps to see it here: if you've been wanting to buy something, and you see yourself staying in the area and the place itself for many years, and you have some savings buffer if things go south, then buy. Don't do it because you want to magically have paper equity gains in the next 12 months. Do it because you like the place you're looking at, the neighborhood it's in, and because you have enough funds in place to get through a downturn if a layoff happened. Of course I say all of that and it's good to know what could happen if a terrible downturn does happen like in 2008 (even the nicest Bay Area hoods prices dropped 25%+). Last thing, single family houses, especially in the Bay Area, are typically more insulated from price drops (insulated not immune). If you can afford a small single family then it might be worth it, especially if there's expansion potential (either for yourself or the next buyer if you decide to move on). And even better if there are some cosmetic problems that are tractable because let's say you do get laid off there's nothing like building some sweat equity in the downtime. Just my two cents having gone through similar in the past.
- mwkaufma 11mo agoStating a 20-year trend like it's a new development :P
- throwaway_0a3we 11mo agoWe (me and my spouse) made an offer for a small condo and then next week company started the layoffs. Luckily we were not in that position where we spent all our savings and ended up in a position where paying mortgage would have been a huge challenge. It's been a year, have a job but uncertainity is very high. Loosing a job now means finding the next one is not very easy and no certainity that it can be a matter of month or two. We made a decision that since we have enough to pay for the downpayment and enough to pay a year of mortgage, we would not go and buy a house in Southern California. It is better to live in rented property but not safe to be in a position where you loose the property.
- lunarcave 11mo agoFrom the article: > The Bay Area continues to lose jobs across high-income sectors (-0.4% YOY), driving modest overall employment declines. These job losses have slowed compared to a year ago but remain negative YOY. Despite generating substantial spending and wealth, the AI-driven tech boom hasn’t added meaningful employment to the region.
- pfisherman 11mo agoThat is because there has been an absolute massacre in biotech in the bay area. Between tariffs (higher COGS), chaos at the FDA, cuts to NIH funding for basic and translational research, and competition from China biotech ventures are getting squeezed from both ends.
- class3shock 11mo agoThe current housing costs (price + interest rate) just seem so out of line with the average household income it boggles my mind it hasn't cooled alot more already. At $84k average household income, assuming 1/3 going to a mortgage would give you $2.3k a month to work with. At 6% interest rate, assuming 20% down payment of $70k, you can just manage a $350k home and that is ignoring taxes, not adding other closing costs, not considering utilities, assuming an interest rate on the lower side and assuming a 20% deposit. Add tax and that gives you around $1.7k to work with. Assume only putting down 10% and adding in $400 a month to cover utilities then you can manage around $175k home. That rules out buying a house in alot of the US. And yes, households in more expensive areas make more but if you are buying the average house, that costs $410k you need to be making like double the national average income to stick to the 1/3 rule. How many households are earning $170k where houses are $410k? Are people just devoting 50%+ of their income to housing? Everyone buying a house with the help of mom and dad? I just really don't get it.
- ninininino 11mo agoLook up the median age of a home buyer in 2025: It's 59 years old lol. Boomers and institutional money are doing the home buying. https://www.apolloacademy.com/median-age-of-all-us-homebuyers-59-years/ https://www.apolloacademy.com/median-age-of-all-us-homebuyer... In 2009 the same chart shows that the median age was 39. In the early 80s it was early 30s. Look at congress, we live in a boomer gerontocracy. Not every boomer is wealthy and powerful, but the majority of people who are wealthy and powerful are either descendants of elites/wealthy, boomers, or a very small fraction of younger tech/finance/business owners. The good news is - assuming there's not a big change in immigration rates - if you can rent cheaply enough for 10-20 years the boomers will start dying in sufficient numbers that if there is somehow no reversion on home prices in the mean time there should be insufficient buyers at that point and prices will eventually fall.
- dragonwriter 11mo ago59 year olds were born in 1966, so the average homebuyer is from Gen X, not a Boomer.
- burnt-resistor 11mo agoMy parents and grandparents were decidedly blue-collar and new middle class from the late 60's to mid 90's, and my grandfather, a mechanic, bought a new home on the Los Gatos border using the GI bill. It requires an income of about 600k USD to afford to buy housing where I grew up. I'm basically solid lower class in the southwest corner of the Texas Triangle now. The main problems, as I see them, are the protectionist limitations on new supply, unfair importation of immense overseas' and out-of-state wealthy individuals' wealth causing gentrification, and the absurd inequality of wages into extreme power law distribution by the cheapening and decline of labor due to under-restrained capitalism.
- pessimizer 11mo agoShame we can't lower prices because people who "buy" things are leveraged out of their minds. Sounds like a pretty stupid way to do things.
- jennyholzer 11mo agoOops! We're really sorry but we accidentally tricked a bunch of you guys into becoming slaves!
- lisbbb 11mo agoI hate it when Trump or whoever touts all the jobs created because I'm sure most of those jobs are of the low-wage variety and aren't really helping anyone. It doesn't matter if a bunch of part-time, crap jobs get created while high paying roles are headed to India or just disappearing. The government does nothing but lie to our faces. As far as housing goes, if we do managed to deport 20 million non-citizens, that should at least help some. Oh yeah, yeah, it's so inhumane to disinvite all those folks whom the NGOs and mega-church charities took advantage of and trafficked here. Every one of those people had dollar signs on their backs for someone else. Now we have an affordability crisis caused by government fiat printing and these never-ending scams moving people around the globe. Good times.
- m463 11mo ago403 forbidden why am I getting more "403 forbidden" responses from websites as time goes on? at some point "website protection" stops adblocking users.
- not_a_bot_4sho 11mo agoI use Mozilla VPN and I've been noticing this trend more and more. Especially for auth endpoints.
- mancerayder 11mo ago40 percent of transactions in NYC were done with no finance contingency ("all cash") in the last year. That's a record and it's vastly more than years past. We live in a world where people with vast assets are beating out people who rely on job income for things like housing. The stock market exploded the past year, and there's your bifurcation: those with assets and those without - getting worse.
- jmspring 11mo agoRecently sold a condo I had in NE California. When I first bought there ~8-9 years ago, a town near by had old railroad cabins for ~100k or less. As the housing / migration boom to Reno took hold, those cabins are now in the 2-250k range. The median income in the county ~40k. The town I was in saw prices for something that was ~175-200k 7-8 years ago peak at around $425k in 2023/2024 and now "cratering" into the low to mid $300ks. Median income hasn't changed, just people with 2nd/vacation homes and wanting to offload them due to the economy.