Americans need a six-figure salary to afford a new home in most cities

Re:Americans need a six-figure salary to afford a new home i... by mpalmer on Friday November 10, 2023 @11:00PM (#38227503)

Trump cut taxes.

It artificially juiced the economy and ballooned the deficit.

COVID hit; the Fed dropped rates to save the economy.

Stimulus checks from both admins increased spending, most agreed they were needed.

Supply chain issues caused product shortages.

War in Europe spiked energy costs.

Thus, Biden ruined everything.

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Re:Americans need a six-figure salary to afford a new home i... by imagainstit on Friday November 10, 2023 @11:17PM (#38227584)

And prior:

2008 happens, fed takes interest rates to zero in final days of GWB.

Ultra-low interest rates through 2019 under Obama and then Trump.

Trump demanding negative rates and interest rates dropping again, rates are dropped again even prior to covid also artificially juicing things.

Then the covid era and interest rates dropping to near zero again.

The road to where we are at now with housing is long and involves many politicians, presidents and parties.

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Re:Americans need a six-figure salary to afford a new home i... by mint2 on Friday November 10, 2023 @11:42PM (#38227691)

And these are all on top of single family zoning with decades of nimbyism and near ban of mid rise housing and impossible parking requirements making it impossible to densify except by way to expensive “luxury” high rises. That’s left pretty much all desirable areas with far too little housing stock.

Well that settles it, the top comment is right all Biden’s fault. /s

Why aren’t people ashamed of posting such obviously wrong hot takes?

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Re:Americans need a six-figure salary to afford a new home i... by jhp123 on Friday November 10, 2023 @11:39PM (#38227675)

don't forget Jane Jacobs winning a fight against NY's planned highway expansion, giving a potent narrative and organizing blueprint for local activists to oppose all sorts of development. Two centuries of conflict between federal and local authorities over racial integration leading to white flight and establishment of suburbs bitterly resistant to outside control. Seventies anti-growth and anti-industrial sentiment driven by anxiety over ecological disasters and a new awareness of physical limits to growth.

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Re:Americans need a six-figure salary to afford a new home i... by apwell23 on Friday November 10, 2023 @11:30PM (#38227640)

what exactly is 'bidenomics' then ?

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Re:Americans need a six-figure salary to afford a new home i... by mpalmer on Friday November 10, 2023 @11:39PM (#38227676)

Improvements from sustainable economic policy happen slowly. To wit, if Trump wins again, he'll take credit for any burgeoning positive effects of Biden's policies, just like he did with Obama's.

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Re:Americans need a six-figure salary to afford a new home i... by apwell23 on Sunday November 12, 2023 @07:48AM (#38239660)

forget about trump. Biden and his team keeps mentioning 'bidenomics' . what is it?

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Re:Americans need a six-figure salary to afford a new home i... by mpalmer on Sunday November 12, 2023 @11:13PM (#38246807)

Elsewhere on HN you were asking what ChatGPT is good for. Well...

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Re:Americans need a six-figure salary to afford a new home i... by apwell23 on Monday November 13, 2023 @09:50AM (#38250747)

https://chat.openai.com/share/bd0f02cb-cdfb-4731-aa4f-af3535...

It just gives me covid relief + 3 proposals that have not been implemented.

but latest is 'January 2022' in chatgpt 3.5

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Re:Americans need a six-figure salary to afford a new home i... by yieldcrv on Friday November 10, 2023 @11:31PM (#38227646)

partisan take, lol partisans

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