It’s weird how in one of the richest countries in the world, many people even couples with 2 full time incomes can’t afford a house?
It’s extra weird, since it seems to me many American homes are built with rather cheap materials compared to Denmark where I live.
What makes even weirder, is that USA is a country with a lot of room on average for building and expanding living spaces.
Seems to me this may be a case of lacking political planning.It’s done by design to drive people into poverty and subservience.
It’s not a lack of political planning, it’s a lack of political power for the working class.
It’s weird how in one of the richest countries in the world
Not that weird when most of the riches are held by a handful of people. The rest of us are just trying to get by.
Yes that’s a problem, still Americans have higher average pay than most countries. With lots of room and cheap materials, it should be relatively easy to afford a house. And AFAIK it used to be that way. People could afford a house, car, children and health insurance on one income.
It’s a mix of outdated zoning laws, investment firms buying up all the available housing and car centric infrastructure
Items #1 and #3 are restatements of the same issue, and #2 is a red herring.
The problem really is just car-centric zoning.
No there’s other things that aren’t specifically car centric but are definitely a cause for undue expenditure.
You don’t think that the firms looking to earn passive income and controlling a significant amount of the supply is an adding additional expense by adding an unneeded middleman?
Don’t get me wrong car centric infrastructure can get fucked but I think it’s important we work on the problem from all angles.
You don’t think that the firms looking to earn passive income and controlling a significant amount of the supply is an adding additional expense by adding an unneeded middleman?
I think the ridiculous protectionist (for NIMBYs and the rich) laws restricting supply are the main reason their business model is so lucrative.
If you hate big landlords and REITs, working to abolish zoning density restrictions is the best thing you can do in order to drive them to bankruptcy.
I can guarantee you they would still find a way of profit on it and extract as much value as possible, that’s just capitalism’s end game.
With lots of room
Country size is irrelevant. People like clustering together in cities.
True, but there is still generally better possibility to expand those cities outwards. But that requires that new building plots are developed, and made available at fair prices.
If new legal building plots aren’t made available as needed, prices will increase on existing homes.
But that just means people are commuting in. There is cheaper housing spread out from the cities, but few people actually want to live there, and those who do will commute hours into the city for work. It’s often more prudent to rent in a city…
We need density, not spreading out.
Continuing to sprawl outward is the worst thing we can possibly do. It is literally omnicidal.
The other 60% have already accepted it and aren’t worrying about it anymore.
Thanks for confirming I won’t be having any original thoughts today :D
Oh it’s not a worry, it’s a reality.
the other 60% are just delusional about their chances
I’m about to buy a home, but it’s taking 4 employed adults combined to afford a 3 bedroom house. It’s insane.
I bought my 1,200 sqft house in a town of 80,000 people for $60,000.
:)
You gotta be willing to look at the whole country instead of just major cities. But most people complaining about not having enough money think they’re entitled to live in expensive areas.
If someone is being paid to work in those expensive areas, the pay should be sufficient to live in or near those expensive areas. It’s entitlement for the employer class that this isn’t the case. The implications of it not being the case (the existence of a class of people in these areas that struggle to afford basic necessities, the extension of psyche-degrading and environmentally destructive commutes, the tearing apart of our societal fabric that comes from isolated suburban commuting living) are all horrificly negative at scale. You may live and work in a situation that is independent of those negatives (you found a good enough paying job in a low cost of living area, or maybe even you work remote, or you don’t mind the isolation and destructive nature of the exurban commute) and that is good for you, but to imply that the whole nation needs to follow your example or stop complaining shows a sore lack of awareness about how scalable the solution you personally found is.
I used to worry too, then I did it.
You don’t need 20% down. I did it with just 7.5% ($30,000).
This was in 2021 though with 3.25% fixed 30 year interest.
Being able to put $30k into anything is not remotely achievable for a ton of people and your wording comes across as very dismissive
I bought my home with absolutely zero cash in hand. That’s what first time home buyer assistance programs and grants are for.
Sure, no problem. Zero down at 7.125% on a home that now costs $350k, but only cost $150k about 5 years ago. I’m sure that’s affordable for a family right now.
How much is the same family throwing away to rent that same home? How much will their rent be in 10 years? Locking into a mortgage ($2650/mo in your example) is the best way to go, even if the home prices are disgusting compared to 5 years ago.
The guy who says he and his partner make $175k/year should be able to afford it.
They won’t.
Most people renting are going to be renting until they die.
They’re just too stupid with their money and think they’re entitled to more than they can afford.
Edit: And they get mad whenever anyone calls it out.
I’m always absolutely fascinated by the confidence displayed by the willfully ignorant. That bliss must be really addicting or something
What do you suggest people do with their money instead? It’s not like you can stop paying rent to save up for a down payment. And with rent on the rise everywhere, it’s not necessarily an option for most to find something cheaper.
If they really want to get out of their situation, they will have to live frugally while saving money.
This means doing things like finding the cheapest place to rent (probably with roommates) and always cooking your own meals. If you really are struggling, then make sure you also get the government benefits that you are eligible for.
But most people think they’re “too good for that” while complaining they don’t have enough money, which is where entitlement comes in.
Please don’t pretend that most renters are doing everything they can to save money. They aren’t. Every renter I know that complains about not having enough money isn’t living in the cheapest spot, orders food all the time, and subscribes to things they can be getting for free.
It’s overwhelmingly people who are bad with money and think they’re entitled to more before others have less.
So your solution is that poor people should never have joy, entertainment, experience life. They need to get in that hamster wheel and grind till they die?
Honestly you people who think life is all about grind, are the saddest people on earth. It’s like you have Stockholm syndrome for capitalism and billionaires
