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re: The Atlantic: the great affordability crisis breaking America
Posted on 2/10/20 at 9:15 am to The Pirate King
Posted on 2/10/20 at 9:15 am to The Pirate King
The free market will force this problem to get sorted out when no one can afford to live there and companies have to relocate.
The pendulum will swing the other way.
The pendulum will swing the other way.
2
Posted on 2/10/20 at 9:16 am to Powerman
quote:
It's the market. And nothing else.
Well, you say that - and for Manhattan, it is probably true.
But not San Francisco with their ridiculous green space regulations and near prohibition of anything high density to even approach meeting housing needs.
Posted on 2/10/20 at 9:17 am to The Pirate King
I recently set up a mortgage for a new house. 4 bedroom and 3 bath, and the 15-year mortgage is $1600 (without PMI, and I only have to pay half because I’m living with another family member). I’ve got a friend who moved to Seattle to work for FB, and his studio apartment rent costs more than my mortgage. He makes 50k more than me, but I come out about even when all expenses are taken out. Plus, I’m getting equity in a house.
Clearly, there’s a discrepancy in cost of living.
Clearly, there’s a discrepancy in cost of living.
Posted on 2/10/20 at 9:18 am to The Pirate King
quote:
And what do New York, Boston, Seattle, and San Francisco have in common? Liberal hotbeds with liberal leaders and ridiculous taxes...but the author fails to address that.
The bigger problem is that there's so much red tape and political gridlock by the city and the council that it's extremely difficult to build new housing
Posted on 2/10/20 at 9:20 am to The Pirate King
Then don’t live in those areas. 
Posted on 2/10/20 at 9:20 am to Ace Midnight
quote:
But not San Francisco with their ridiculous green space regulations and near prohibition of anything high density to even approach meeting housing needs
If you want to even paint one of the historic Victorian buildings, it takes over a year just to get approval for the paint colors.
Posted on 2/10/20 at 9:21 am to The Pirate King
quote:
metro areas such as the Bay Area, Seattle, and Boston, severe supply shortages have led to soaring prices—millions of low- and middle-income families are no longer able to purchase centrally located homes.
Most zoning laws and housing regs are meant to protect property values, nor people.
Posted on 2/10/20 at 9:23 am to The Pirate King
They aren’t wrong.
There is another housing bubble.
Lenders are still packaging inflated mortgages into packages to attract investors...many of them foreign.
There is another housing bubble.
Lenders are still packaging inflated mortgages into packages to attract investors...many of them foreign.
Posted on 2/10/20 at 9:26 am to Powerman
quote:
It's not just the taxes.
Agreed
quote:
Taxes are almost irrelevant in this discussion.
No, they're not.
Texas has robust property taxes, but they are "almost irrelevant" because there's no income tax AND housing is much more affordable.
They become relevant when they are part of the trifecta making housing unaffordable - as in the case with the urban centers identified in the story.
Posted on 2/10/20 at 9:26 am to Strannix
quote:
What does that have to do with this being a problem narrowly focused in large urban coastal metropolises, specifically in the highest priced parts of those urban areas? Are you stupid?
A lot of our citizens live in said areas?
Posted on 2/10/20 at 9:29 am to BobBoucher
This is not a free market problem and telling people to “just move” is quite ignorant.
Posted on 2/10/20 at 9:30 am to The Pirate King
I think a population reduction is the better route to fix this.
This post was edited on 2/10/20 at 2:05 pm
Posted on 2/10/20 at 9:31 am to GREENHEAD22
quote:
I think a population reduction is the better route to fox this.
Most people don't proudly announce their stupidity but here you are
Posted on 2/10/20 at 9:33 am to Robin Masters
quote:
Move to where you can afford a house or share a house with another family.
I can’t afford a place on the beach in Malibu so I don’t live on the beach in Malibu. Crazy concept I realize.
This is why it boggles my mind that a Google, Apple, etc doesn't move to more rural areas with lower taxes. With the insane amounts of money they have they could build their own town in a damned near empty county or parish in "flyover country". Their savings on income and property taxes by locating to some place like Robertson Country, KY (much less some place with no income taxes like Wyoming) would be a boon both to the company and the local region. With today's level of accessibility via technology there's really little reason for companies like those to remain in high-population areas with sky-high costs of living.
Posted on 2/10/20 at 9:33 am to udtiger
(no message)
This post was edited on 2/10/20 at 10:11 am
Posted on 2/10/20 at 9:35 am to Powerman
quote:
Most people don't proudly announce their stupidity but here you are
Says the guy who thinks 10 cities = nation.
Posted on 2/10/20 at 9:35 am to udtiger
quote:
Texas has robust property taxes, but they are "almost irrelevant" because there's no income tax AND housing is much more affordable.
If your idea of "robust" property taxes is akin to getting flogged like a Muslim woman that didn't wear her burka I get it
I live in TX and property taxes are a huge burden depending on where you live
I pay over 6K in property taxes a year and don't exactly live in a mansion over here
Posted on 2/10/20 at 9:35 am to Powerman
quote:
And nothing else.
That's dumb. Hell even The Obama administration did a study and concluded that a good par of the problem is zoning and regulation.
Things like taxes and regulation affect markets.
Posted on 2/10/20 at 9:35 am to Powerman
quote:
Taxes are almost irrelevant in this discussion.
How are taxes irrelevant in this discussion
And you call other stupid
Posted on 2/10/20 at 9:40 am to GREENHEAD22
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