4 ms·

I don't understand the last part, if the rent is high buying will be high too.

• afafsd 12y ago
  I mean that those who have been living in the city for decades but didn't buy there may now find themselves pushed out. They could have bought twenty years ago for much less but they didn't. If they'd bought property they would have instead made a huge profit. That's one of the risks you take when you rent rather than buy -- that values may go up significantly and push you out.
  • bch 12y ago
    Or, you buy at a price you can afford, but find over time you're taxed (directly, indirectly) beyond your means and still can't afford to live there.
  • madengr 12y ago
    "They could have bought twenty years ago for much less but they didn't." Ah, but it really wasn't much less 20 years ago. It was STILL expensive compared to everywhere else.
• deleted 12y ago
  [deleted]