If "house poor" is someone who spends too much on home ownership... (money, paying)
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OP presents a good question. House poor does imply ownership. Renters can more easily extricate themselves from an unaffordable situation - not easily, just more easily.
Actually, North American housing and land use markets are very UNfree because government artificially restricts the supply and variety of housing which can be built.
Japan doesn't have a NIMBY problem like we do.
Japan has a contracting population. There are vacant homes and empty apartments everywhere. Tokyo has one in 10 homes vacant.
OP presents a good question. House poor does imply ownership. Renters can more easily extricate themselves from an unaffordable situation - not easily, just more easily.
Location: Formerly Pleasanton Ca, now in Marietta Ga
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Originally Posted by freemkt
I did not find that in Investorpedia.
11 million renters spend at least half their income on shelter. They're all foolish?
Can't say they are all foolish, but I don't see very many constantly complaining about it here over and over and over. It might be that they are instead working extra to make ends meet or improve their lot in life.
Can't say they are all foolish, but I don't see very many constantly complaining about it here over and over and over. It might be that they are instead working extra to make ends meet or improve their lot in life.
Or depending on the statistic source, they could be temporarily in between jobs.
Actually, North American housing and land use markets are very UNfree because government artificially restricts the supply and variety of housing which can be built.
Japan doesn't have a NIMBY problem like we do.
By a pure definition of “free” being no rules or intervention, there’s basically no free market for any good or service in any country on earth.
Let me rephrase “it’s the freestmkt rational people can choose to operate and succeed in”.
And this may come as a shocker...but if someone’s income is low enough to not be able to afford rent....it’s likely that person can’t afford the upfront....ongoing...and future costs of owning a home.
11 million renters spend at least half their income on shelter. They're all foolish?
Not all. It would be absurd to think or say that. Most however run the gamut from financially decimated through financially savvy where the numbers tend to be less. I’ve met very few renters who had their stuff together. And I get to see a part of people’s lives that most aren’t privy to see.
Some invest their money and are financially savvy. Those renters are not interested I having a house at this time due to choice, work moving them a lot or simply not wanting the set roots down part of their life.
I did not find that in Investorpedia.
11 million renters spend at least half theirincome on shelter. They're all foolish?
Every last one of them. HOW foolish might have some flexibility... but they're all well over the line.
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