The Fed now owns nearly 1/3 of all U.S. mortgages

Re:The Fed now owns nearly 1/3 of all U.S. mortgages by CydeWeys on Wednesday September 09, 2020 @09:12AM (#24420623)

Rochester is definitely cheap, but for a reason: It's a city on the down slope past its peak. It's a deindustrialized rust belt city with a population down 38% from its pre-WWII high. That goes a long way to explain why housing is so affordable. And I wonder what the tech job situation is like there (though that may matter less now, what with the pandemic increasing the acceptability of WFH).

It's hard to move somewhere for cheap housing where you literally wouldn't know a single person, though. Social life is important.

Also, there's the winter weather. I hope you like cold and snow.

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Re:The Fed now owns nearly 1/3 of all U.S. mortgages by pc86 on Wednesday September 09, 2020 @09:29AM (#24420780)

> It's hard to move somewhere for cheap housing where you literally wouldn't know a single person, though. Social life is important.

And this is fine, but it seems very disingenuous to say that it's a crime that you can't afford to buy a home when you refuse to move out of arguably one of the most expensive cities in the country. It's equivalent to crying about not being in the 1% when you're in the top 1.5%, and you could move if you wanted to.

There's nothing wrong with wanting to live in San Francisco, but expecting to buy a home a few years after graduating from college is ridiculous in my opinion.

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Re:The Fed now owns nearly 1/3 of all U.S. mortgages by CydeWeys on Wednesday September 09, 2020 @10:37AM (#24421485)

> but it seems very disingenuous to say that it's a crime that you can't afford to buy a home

It's also very disingenuous to misrepresent other people's statements like this. Literally no one is saying it's a crime.

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