The Stock Market Is Not The Economy Thread II

[Jaybar]

I rented out a room to a friend who I also got a job at my last place and lemme tell you one of the worst decisions of my life.

I'm glad they got some stability but god damn roommates blow.

Man, I loved having roommates because my friends weren't garbage humans.

[archibaldcrane]

I never had roommate issues but SROs should be legalized and studios more common for people who prefer to live alone.

[archibaldcrane]

https://twitter.com/tobyhardtospell/...bnOaZO74A&s=19

[Mrbeansman]

Housing issues will never be solved in this country till we stop considering it an investment.

[thetruepandagod]

https://twitter.com/tobyhardtospell/...bnOaZO74A&s=19

my city trying to add 8000 new housing units and they gonna obliterate my one empty hangout spot in town. i curse this development with all my spirit

[Day]

particpating in society is when you own multiple houses

[thetruepandagod]

roommate friend who moved out a year ago is just about to buy his 2nd house. some slackers in here

[archibaldcrane]

particpating in society is when you own multiple houses

If I held as a principle "housing should be free" or something that would make sense I suppose, but I don't and neither do you.

I'm a good, attentive landlord who fixes shit quickly and I care about my tenants - who love living there and are on year #4.

[archibaldcrane]

Housing issues will never be solved in this country till we stop considering it an investment.

But we can substantially improve the hardships many people face regarding housing by broadly legalizing apartment construction and removing barriers that make it so expensive.

[NynJa]

Housing issues will never be solved in this country till we stop considering it an investment.

Do you expect people to just rent out houses/apartments at a loss?

[Day]

If I held as a principle "housing should be free" or something that would make sense I suppose, but I don't and neither do you.

I'm a good, attentive landlord who fixes shit quickly and I care about my tenants - who love living there and are on year #4.

All landlords are bastards sorry

ALAB

[Mrbeansman]

Do you expect people to just rent out houses/apartments at a loss?

Its not even that it's the way that homeowners fight tooth and nail to prevent any affordable housing being built becasue it will drive down property values.

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[Cantih]

My thought on it is, "you can't have dessert, until you finish your vegetables"

Divide the population in an area [commute distance/time] by income deciles. If there isn't enough housing available at the [30% of single earner income] level for the bottom 5 deciles, then no new development is allowed at the price/aimed at the top 2 deciles until the problem is fixed.

If there arises a situation where there is not enough housing for the population period, then congrats, high density low cost housing must be built (to code).
If there is no open land nearby to do so, then the lowest density housing must be demolished to make space.

[Roranora]

All landlords are bastards sorry

ALAB

is it can be Mao time?

[Andalusian girls]

But we can substantially improve the hardships many people face regarding housing by broadly legalizing apartment construction and removing barriers that make it so expensive.

it's kind of a joke a relatively simple topic has become so politicized and nimbyism / parochial interests are distorting a market desperately in want of supply so badly

what's the problem?
we don't have enough homes
should we build more?
no no no we'll find another way

[Salodin]

I dont get how people here hate me more than Archi based on that one simple fact.

I'm fucking deaddddd

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[kuronosan]

But we can substantially improve the hardships many people face regarding housing by broadly legalizing apartment construction and removing barriers that make it so expensive.

Yes, if it's one thing this country needs more of it's apartment complexes that charge more than a mortgage for less.

[synistar]

In my part of LA, there have been new apartments built the past 10 years and still continuing today. None of them have low income units for lease. Average minimum for a 1 bed/1 bath is $2.4k/mo. 2 bed/1 bath is in the neighborhood of $3.2-$4k.

New housing for low income families does not exist in coastal urban cities.

[archibaldcrane]

In my part of LA, there have been new apartments built the past 10 years and still continuing today. None of them have low income units for lease. Average minimum for a 1 bed/1 bath is $2.4k/mo. 2 bed/1 bath is in the neighborhood of $3.2-$4k.

New housing for low income families does not exist in coastal urban cities.

Sure it does, plenty of new buildings take advantage of density bonuses or transit-oriented development bonuses that require 10-20% of the units be "deed restricted affordable" at a certain % of area median income.

These units obviously have far more applicants than spots available and aren't advertised on normal rental markets, but they are absolutely being built and rented by low income tenants.

8 affordable units here: https://layimby.com/2022/08/apartmen...s-angeles.html

4 here: https://layimby.com/2022/02/mixed-us...s-angeles.html

34 here: https://layimby.com/2022/07/mixed-us...s-angeles.html

76 here: https://layimby.com/2022/02/high-ris...s-angeles.html

You can search for deed restricted affordable apartments (as well as those optimized for disabled people) and apply here: https://lahousing.lacity.org/AAHR/Co...ible%20Housing

Over 1200 properties listed.

Sample listing in screenshot

[archibaldcrane]

First revisions to Q2 GDP and GNI (gross national income) today. These two stats are measured differently but are supposed to be equal, and the recent divergence between the two has been baffling economists and they tell significantly different stories about the health and trajectory of the economy.

Q2 GDP revised up from -0.9% to -0.6%, Q2 GNI was +1.4%

Thread:

https://twitter.com/bencasselman/sta...N7e2vJXyQ&s=19