Also it’s not even “the affluent” doing it, it’s often just the lucky house-rich. You can get mad at young professionals for moving to Mexico City and Spokane and San Antonio all you want but if you’ve got people in the cities they normally would live with a stranglehold on the zoning laws maintaining a 1.2 million dollar average price o…
Also it’s not even “the affluent” doing it, it’s often just the lucky house-rich. You can get mad at young professionals for moving to Mexico City and Spokane and San Antonio all you want but if you’ve got people in the cities they normally would live with a stranglehold on the zoning laws maintaining a 1.2 million dollar average price on a modest suburban home so that they can maintain that value on a house they bought for 170,000 30 years ago, and they won’t allow apartments to be built what on earth are young professionals supposed to do?
Little known fact: the people living in tent cities in San Francisco would be living in 3,500 square foot ranches if they’d just consider moving to the outskirts of Raleigh!
Excellent comment. We bought a house 40 years ago for $79,900 and recently sold it for $1,250,000. I’m personally bemused but personally enriched. California.
As long as you aren’t one of those people telling my generation we should be able to buy a house by giving up Starbucks. Ugh. I swear sometimes I need a trigger warning for discussions about home prices because there is nothing I find more depressing.
Also it’s not even “the affluent” doing it, it’s often just the lucky house-rich. You can get mad at young professionals for moving to Mexico City and Spokane and San Antonio all you want but if you’ve got people in the cities they normally would live with a stranglehold on the zoning laws maintaining a 1.2 million dollar average price on a modest suburban home so that they can maintain that value on a house they bought for 170,000 30 years ago, and they won’t allow apartments to be built what on earth are young professionals supposed to do?
Exactly. People are responding rationally to real economic circumstances. What are they supposed to do, go buy a tent and live under the BQE?
Little known fact: the people living in tent cities in San Francisco would be living in 3,500 square foot ranches if they’d just consider moving to the outskirts of Raleigh!
(Too soon?)
Is this a reference to something?
Just the tent cities and the high cost of living in the Bay Area.
Excellent comment. We bought a house 40 years ago for $79,900 and recently sold it for $1,250,000. I’m personally bemused but personally enriched. California.
As long as you aren’t one of those people telling my generation we should be able to buy a house by giving up Starbucks. Ugh. I swear sometimes I need a trigger warning for discussions about home prices because there is nothing I find more depressing.