Re:Throughout the rich world, the young are falling out of l...
by dilap on Friday February 17, 2023 @10:20AM
(#34835617)
Cars and healthcare are debatable, but with housing you're literally buying the same houses as the previous generation, just way more expensive.
https://www.zillow.com/homedetails/4518-Rosedale-Ave-Austin-...
https://www.zillow.com/homedetails/1339-46th-Ave-San-Francis...
https://www.zillow.com/homedetails/677-Harmony-Ln-Ashland-OR...
Re:Throughout the rich world, the young are falling out of l...
by lotsofpulp on Friday February 17, 2023 @10:55AM
(#34836116)
The economic value of a location changes over time, so the land component of the house is not the same. Plus increases in population can dramatically shift supply and demand curves.
Re:Throughout the rich world, the young are falling out of l...
by dilap on Friday February 17, 2023 @11:04AM
(#34836272)
Sure, but basically all desirable places to live now are expensive, which wasn't the case before.
I'm not sure about the exact causes, but at some level it has to be supply and demand, I agree. Maybe just growing population. Certainly the bay area is, in my opinion, very over-populated.
It's a magical physical location, and there's too many people that want to live in it, for it to be pleasant.
(Though the horrible government also isn't helping.)
Or maybe a reflection of higher expectations? Housing, healthcare, and vehicles are all examples of things that both cost more and are much more advanced than the same version previous generations had.
Also young people are living in cities more than previous generations and those cities are denser. The value prop of a car, price aside is less than it was for previous generations.