Re:Priced out of home ownership – 'It makes me want to throw...
by ericmcer on Wednesday May 29, 2024 @02:39PM
(#40515258)
A factor I don't see talked about:
All those countries killed their manufacturing and offshored it over the last 40 years. Factories and manufacturing meant good jobs located far away from major cities, and towns/communities built up around those jobs.
Now all the jobs are located in large cities so housing prices there are going through the roof. If you are young you almost have to move to a major city if you want to start your career. Meanwhile there are "ghost cities" and other dwindling towns where you can buy a house for pennies.
All those countries killed their manufacturing and offshored it over the last 40 years. Factories and manufacturing meant good jobs located far away from major cities, and towns/communities built up around those jobs.
Now all the jobs are located in large cities so housing prices there are going through the roof. If you are young you almost have to move to a major city if you want to start your career. Meanwhile there are "ghost cities" and other dwindling towns where you can buy a house for pennies.