Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago
“Since pre-pandemic, the income needed to afford rent has increased by 31.5%,” Zillow’s chief economist, Skylar Olsen, wrote yesterday.
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No worries, we all got bigass raises, right?
I did.
My income has gone up 50% since the pandemic. So did most of my friends who were working in any technical fields.
The economy is skewed. I keep telling my friends to learn to code or learn basic IT skills... and they just actively refuse and continue doing manual labor jobs and complaining about how they can't make more money. And such is there lot.
A few peopel I know moved into healthcare, and are doing financially much better, but their jobs are very high stress due to the shortages.
Bro if everyone moves to the jobs that pay enough to live decently, very important jobs will not get done. Our society needs manual laborers to keep everything from falling apart.
Also, the jobs that pay decently will start to not pay decently. And now we're back at square one
Actually worse than square one, because in this scenario, nobody's picking up the trash.
I make 120k a year installing carpets lol. I absolutely bust my ass but I make more than many people I know who went to college. My dad also installed carpets for 48 years before retiring at 71. I plan to retire sooner though lol but will work for many years to come and pump.up that IRA
Holy wow, where are you located if you don't mind me asking? My dad lays carpet and makes like 35k a year.
Does your dad work for himself or someone else? If he works for himself I don't know how he's only making 35k lol. I live in Western New York though (no where near NYC)
Works for himself. But we live in Iowa so it isn't quite as bad of a salary as it sounds. Still not great though
How the fuck did his knees last that long. Are they original equipment?
We don't use kickers much any more we use power stretchers so the wear on the knees is not that bad. Our backs hands and shoulders hurt more than our knees.
Ahh. My dad was briefly in the trade in the 70s/80s and still has the tools (kicker included) from the era.
Watched him install a carpet once as a kid (as DIY, not a job...he had long moved on since then) and I couldn't believe people could put that much trauma on their knees day in/day out for decades. Then a few years ago he installed another and just decided to rent the damn power stretcher. World of difference, he said.
Your solution does not apply to the whole society, it's just a patch to make your life easier but globally it doesn't fix anything. This is part of the american mindset: "fuck everyone else while I'm doing great"... don't get me wrong, I understand your point of view but this is not how we move forward.
That is a misnomer solution telling everyone to learn how to do the same thing like to learn to code as it then creates its own market issue of too much supply for need.
Additionally it’s not diverse. Diverse jobs are still needed. They need to just pay more in those jobs. But all this is besides the point anyways.
There is no house shortage. There is plenty to house people and the issue is with capitalism being unchecked for too long over its control on living arrangements. This is something capitalism shouldn’t have a say in. Society has become beyond its required need for helping people survive as a whole and it’s become unsustainable. It was never supposed to be about sustaining a rich person’s yacht and 5th house that has nobody living in it anyways. This is not a society that is thriving.
Exactly, banning or severely limiting short-term rental housing ie VRBO and foreign land/property purchases Id wager would make a huge impact on righting the boat.
Not really, then local landlords just make more profit because the demand is the same
Without the supply of homes going into shortterm rentals like VRBO it would increase supply for people who actually live in that city, travelers can use hotels. Not a full stop fix, but it would increase supply/lower rent.
That would increase hotel prices, making hotel owners purchase more land and build hotels until the equilibrium price is reached
It's a short term fix that eventually loses to market forces
Even if it ends in more hotels, hotels fit more people and supply more jobs than the equivalent space in houses. For temporary lodging houses don't make sense.
We should build large apartment buildings, actually. And I don't mind temporary housing in an apartment building, I lived in one for a month.
even then you're fucked. I've been on "the bench" at my contracting company since christmas, which led to my wages getting halved. every fucking day I read about layoffs in software development flooding the market with better programmers than me.
Strange argument. Yes people can swap but that might make them unhappy and we also need people to do other work than it and healthcare and they should still be able to afford a house
The more people get into it the less valuable it becomes is the thing. But others pointed out there's a ton of other reasons it's problematic, like the need for those other jobs to exist to actually, like, have a functioning society.
Edit: Also arguably a lot of the low hanging fruit coding positions aren't as lucrative as they once were. People with experience are doing well. New people are having a tougher time getting their foot in the door compared to 5-10 years ago.
learn to code
Didn't we already try this one?
That was the UK Govs approach for a lot of industries: "Just do cyber"
It sounds like you're describing the same thing that happened when we globalized manufacturing. Economists said everyone would retrain and go to other fields, but it just doesn't seem to happen IRL.
people hate change. that's why.
