I've run the math on my own housing cost versus my parents, and I don't think this thesis holds up.
I do think there is a lot of cheap housing out there. If you're willing to live far away from the good jobs. If you're willing to put up with crime or bad schools. Then you can find astonishingly cheap housing even in a place like NYC.
But when I compare like to like. That is housing equivalent to my parents today (and I'm talking post 2021 rate increase), it's not even remotely close. My parents could NEVER afford to live in the house I grew up in today.
The comparison isn't between what your parents can afford and why you can afford today. It's what percentage of income a 25 year old would have paid back then versus what they would pay now. I highly recommend reading Horpedahl's analysis, which is based on BLS consumer expenditure data, then and now. Thanks for commenting.
Just who is this "we" I see bandied about everywhere in Substack writing, as here? Do not assume you speak for me. You'll have to argue the point so that I might be persuaded, rather than to assume I (and other readers) are all within your mindset, attitude or ideation. I am certainly not unhappy. Rather, to the contrary, and very encouraged by what I see occurring now -- awakening, scales fallen for many, nourishing seeds planted, germinating and taking root everywhere.
I love that you're talking about this, Nick, and would enjoy seeing you put into writing someway.
I've run the math on my own housing cost versus my parents, and I don't think this thesis holds up.
I do think there is a lot of cheap housing out there. If you're willing to live far away from the good jobs. If you're willing to put up with crime or bad schools. Then you can find astonishingly cheap housing even in a place like NYC.
But when I compare like to like. That is housing equivalent to my parents today (and I'm talking post 2021 rate increase), it's not even remotely close. My parents could NEVER afford to live in the house I grew up in today.
The comparison isn't between what your parents can afford and why you can afford today. It's what percentage of income a 25 year old would have paid back then versus what they would pay now. I highly recommend reading Horpedahl's analysis, which is based on BLS consumer expenditure data, then and now. Thanks for commenting.
Just who is this "we" I see bandied about everywhere in Substack writing, as here? Do not assume you speak for me. You'll have to argue the point so that I might be persuaded, rather than to assume I (and other readers) are all within your mindset, attitude or ideation. I am certainly not unhappy. Rather, to the contrary, and very encouraged by what I see occurring now -- awakening, scales fallen for many, nourishing seeds planted, germinating and taking root everywhere.