PC Principal V: What The Fuck Am I Reading

[Zetanio]

the fuck do you need to own a house for.

[Fiye]

the fuck do you need to own a house for.

Not everyone wants to live in a hole in the wall in new york.

[Ksandra]

the fuck do you need to own a house for.

Whether or not you need it is irrelevant. Whether or not you CAN is relevant.

[Fiye]

On second thought that hole in the wall in new york probably costs more than an actual house.

[Zetanio]

Whether or not you need it is irrelevant. Whether or not you CAN is relevant.

Not really. I think the promotion of "everyone needs a house" is one of the major driving factors of the last credit crisis.

[archibaldcrane]

Median weekly earnings for full time employees were at an all-time high (both absolute and adjusted for inflation) in the 3rd quarter of 2018, if that answers any questions about "job quality".

$355 (in 1982 dollars) is the highest its ever been. $345 was the highest it got before the recession.

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[Jaybar]

Not really. I think the promotion of "everyone needs a house" is one of the major driving factors of the last credit crisis.

Preach it.

[Ksandra]

Not really. I think the promotion of "everyone needs a house" is one of the major driving factors of the last credit crisis.

I'd like to argue the credit crisis wasn't so much that "everyone needs a house" so much as "it's so easy to afford a house" no longer being the case.

My parents got a huge brand fucking nice new home for about $40k in a upper middle class area back in the day. It was easy. So yes, people grew up expecting it to be easy, too.


And I grew up in that huge house, lived in apartments, and now a townhome. Living in a house fucking wins hands down for a family. Townhome at least is a huge upgrade from an apartment, but I would take the house over it any day of the week. Apartment was mentally suffocating and just the worst with kids.

[Psion]

Median weekly earnings for full time employees were at an all-time high (both absolute and adjusted for inflation) in the 3rd quarter of 2018, if that answers any questions about "job quality".

$355 (in 1982 dollars) is the highest its ever been. $345 was the highest it got before the recession.

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full time? so basically, literally no one in retail.

[Zetanio]

I'd like to argue the credit crisis wasn't so much that "everyone needs a house" so much as "it's so easy to afford a house" no longer being the case.

My parents got a huge brand fucking nice new home for about $40k in a upper middle class area back in the day. It was easy. So yes, people grew up expecting it to be easy, too.


And I grew up in that huge house, lived in apartments, and now a townhome. Living in a house fucking wins hands down for a family. Townhome at least is a huge upgrade from an apartment, but I would take the house over it any day of the week. Apartment was mentally suffocating and just the worst with kids.

The houses were easy to afford because of people (read: Politicians) pushing the fucking "everyone needs a house" narrative for 40 years. Constantly lowering the barriers for banks to lend to shittier borrowers with worse credit. This led to massive amount of building and people who SHOULD NOT owned a single home had 3 houses and were trying to flip them.

This is without even discussing the fact that within a metropolitan area, a single family house is one of the biggest wastes of property after a fucking golf course. See: San Francisco.

[arus2001]

Population steadily increasing while room for traditional housing in established areas really not doesn't exactly help the problem, either. But more to the initial point, a single 40 hour minimum wage job still can't really sustain an individual living in an apartment while covering other needs, heaven forbid if they have/want a family. This is also further exacerbated by a lot of areas having absolutely shit poor public transit, making a personal vehicle and all those expenses mandatory. The wage reality is one of the big reasons why I was against the mandate in Obamacare despite understanding the reason for it. Anyway, not only does the nationwide MW need a dramatic hike, but I feel a longer term goal would be shifting the expected work week from 40 to 30 hours, too. But that's more about enabling families to be families again, while the single folks or bootstrappers can stick to working their butts off if they want.

[Zetanio]

I agree with the initial point that people should be able to live comfortably on a normal work schedule. Shit's wack.

[Gredival]

I agree with the initial point that people should be able to live comfortably on a normal work schedule. Shit's wack.

Get out pinko

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[archibaldcrane]

full time? so basically, literally no one in retail.

Can't find data on inflation-adjusted hourly retail sector wages over time, sorry.

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[Dimmauk]

the fuck do you need to own a house for.

Why do you hate the American dream so much?

[zoobernut]

The main issue is that while wages may be increasing disposable income isn't. Workers cost companies more but take home less. Most of that cost is consumed by healthcare costs some of it goes to other costs. But quality of life and how much money people have to spend to drive the economy forward is driven by their take home pay not how much they "cost" a company.

[Ksandra]

The houses were easy to afford because of people (read: Politicians) pushing the fucking "everyone needs a house" narrative for 40 years. Constantly lowering the barriers for banks to lend to shittier borrowers with worse credit. This led to massive amount of building and people who SHOULD NOT owned a single home had 3 houses and were trying to flip them.

Uh, yes? Me saying not being the case anymore isn't limited to one factor. If you think that was never the case, that's just ridiculous. But yes, several factors lead to homes being less affordable today. Rising costs in student loans, car loans (I wanna also throw in used car costs often making it no longer a deal), etc. all hurt towards home affordability.

Keep in mind, back in the day it was easier to get a home on a single income, then easier to get a home on dual income, now barely able to get a home on dual income. And this isn't just the housing cost, just everything else you have to pay for on top of a mortgage.



Should literally everyone be able to afford a home? No. Should a lot more people be able to afford a home than currently is allowed? Yes. Or at least, should be easier.

This is without even discussing the fact that within a metropolitan area, a single family house is one of the biggest wastes of property after a fucking golf course. See: San Francisco.

Waste to who?

[Zetanio]

Waste to who?

Everyone except the person who owns the house.

[Ksandra]

Everyone except the person who owns the house.

How so?

[Byrthnoth]

Because the metro-adjacent square footage is only 1-2 stories when it could be ten.