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Old 11-22-2017, 01:11 AM
 
Location: Washington State
15,355 posts, read 8,025,596 times
Reputation: 13158

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Quote:
Originally Posted by freemkt View Post
It is painfully obvious that "the market" has NOT fulfilled demand. What do parents have to do with the failure of the private sector to meet housing demand? If parents had met your standards of preparing the kids to compete in the labor market, there would still be pretty much the same number of people competing for an inadequate supply of housing - and, quite possibly, bidding up rents even higher than they are today.

And who decides whether government 'properly guides the economy'? I believe that most homeowners DO NOT WANT additional and/or "more affordable" housing in their neighborhoods, i.e. I believe government is 'guiding' the supply of housing pretty much the way homeowners prefer.
Incorrect, the market has and will continue to fulfill the demand. The fact that low income people can't afford housing in optimal areas is just reality of life at work. Right now I'm next to the Tower of London and guess what, poor people cannot afford to live here other than a few granted low income housing paid by others.
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Old 11-22-2017, 01:54 AM
 
752 posts, read 535,554 times
Reputation: 1302
The problem is that there is too much competition for affordable housing, because of all the investors and flippers in the market right now. They buy the same houses that lower income people buy, so they can sell them at a much higher price that lower income people can't afford.

We had the same problem before the last housing crash.

As far as building new houses that are affordable is concerned, that's not as profitable as building luxury homes. From a business standpoint, why make a $100,000 house when you could build a $400,000 house on the same plot of land?
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Old 11-22-2017, 01:58 AM
 
752 posts, read 535,554 times
Reputation: 1302
https://www.trulia.com/blog/trends/flipping-point-2016/


Los Angeles Is a Top U.S. City for House Flipping | L.A. Weekly


https://qz.com/1064061/house-flipper...w-study-shows/
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Old 11-22-2017, 07:14 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
28,386 posts, read 50,582,032 times
Reputation: 28616
There are still many places in the USA with no housing shortage and plenty of affordable rentals. Too many people that choose to live in an expensive area without the financial means, and neither the government nor local developers are going to pay to cover that big gap. The victims of gentrification losing their rental to development or investors are the victims of progress, those that move here without a good job lined up are victims of their own questionable judgement. These states have median home prices less than half of Seattle, and less than 1/3 of some eastside cities.

https://www.cnbc.com/2017/07/11/amer...e-in-2017.html
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Old 11-22-2017, 07:34 AM
 
17,613 posts, read 12,197,156 times
Reputation: 12851
Quote:
Originally Posted by freemkt View Post
Are those people sufficiently numerous as to be a significant factor? How many undocumented immigrants are in the county? Would the problem largely resolve if undocumented immigrants left?

Well you couldn't or wouldn't do the jobs most undocumented works do nor do you have the work effort to match the majority of them even if you were physically able to do so. I'd wager a guess that would apply to a lot of life time minimum wage earners
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Old 11-22-2017, 09:43 AM
 
Location: South Minneapolis
4,523 posts, read 5,053,159 times
Reputation: 6496
Quote:
Originally Posted by TaxPhd View Post
Why do think there is a shortage? Is it because the laws of economics have somehow been suspended, or could it be that something else is going on, and the economics is actually working just like it should?
The housing markets in California and Oregon are over regulated in the interest of protecting the environment.
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Old 11-22-2017, 11:05 AM
 
Location: Forest bathing
1,133 posts, read 673,764 times
Reputation: 2638
Quote:
Originally Posted by Lowexpectations View Post
Well you couldn't or wouldn't do the jobs most undocumented works do nor do you have the work effort to match the majority of them even if you were physically able to do so. I'd wager a guess that would apply to a lot of life time minimum wage earners
That’s not true. I used to pick strawberries, slime fish, insulate pipes in a refinery. And, I know many American citizens who drywall, roof, work in orchards, landscape, etc. Quit spreading lies.

Last edited by xPlorer48; 11-22-2017 at 11:06 AM.. Reason: Auto correct got it wrong.
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Old 11-22-2017, 11:13 AM
 
17,613 posts, read 12,197,156 times
Reputation: 12851
Quote:
Originally Posted by clikrf8 View Post
That’s not true. I used to pick strawberries, slime fish, insulate pipes in a refinery. And, I know many American citizens who drywall, roof, work in orchards, landscape, etc. Quit spreading lies.
I'm not spreading lies, I speaking the absolute truth. Try this next time, when someone is speaking to another person don't interject yourself into my response that was clearly directed at another person. Most lifetime minimum wage workers don't have manual labor skill set so my comments would apply to a lot of life time minimum wage earners
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Old 11-22-2017, 11:19 AM
 
Location: Forest bathing
1,133 posts, read 673,764 times
Reputation: 2638
Quote:
Originally Posted by Hemlock140 View Post
There are still many places in the USA with no housing shortage and plenty of affordable rentals. Too many people that choose to live in an expensive area without the financial means, and neither the government nor local developers are going to pay to cover that big gap. The victims of gentrification losing their rental to development or investors are the victims of progress, those that move here without a good job lined up are victims of their own questionable judgement. These states have median home prices less than half of Seattle, and less than 1/3 of some eastside cities.

https://www.cnbc.com/2017/07/11/amer...e-in-2017.html
I was lucky to be born in a desirable area: PNW. We have acreage and a home all paid for. Homes in my neighborhood sold for bewtween $550k -$1.2 million in the past two years. We could not afford to buy our property today that we bought 35 years ago for $100k that seems like a lot back then. My husband was in refinery maintenance and I was self-employed. Our neighborhood used to be mainly blue collar; now it is turning professional. If we didnít have an agricultural open space designation for property taxes, we would have a more difficult time paying the assessed value taxes that are almost twice as much on our retirement income. A retired neighbor (log truck driver) who has been here over 20 years qualified for senior low income rate which is way less than half. The people who bought the four homes in the last two years have been professionals from out of state (no, not California, lol). So, it is not only those who move here without the jobs skills; it is middle income people who are long-time residents who are struggling.
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Old 11-22-2017, 11:21 AM
 
Location: Forest bathing
1,133 posts, read 673,764 times
Reputation: 2638
Quote:
Originally Posted by Lowexpectations View Post
I'm not spreading lies, I speaking the absolute truth. Try this next time, when someone is speaking to another person don't interject yourself into my response that was clearly directed at another person. Most lifetime minimum wage workers don't have manual labor skill set so my comments would apply to a lot of life time minimum wage earners
This is a public forum and I can interject whenever I want.
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