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In MS. There is even affordable housing within 30 minutes of Memphis too. The problem is it isn't in some hip town with a starbucks on every corner, it's still very much small town USA. Some people only want to live in prime locations with all the perks and not have to pay for that prime location.
As for how long it will last, the plant is already planning for expansion. The last plant they put in small town USA is now a thriving city, when they first put the plant in it was a one stop light town.
We are coming out of a popping Real Estate bubble House bubble. We also have historic low interest rates. So where home prices are going up they go way up. where they aren't they don't. A new factory will tend to drive a local residential Real Estate bubble.
We are coming out of a popping Real Estate bubble House bubble. We also have historic low interest rates. So where home prices are going up they go way up. where they aren't they don't. A new factory will tend to drive a local residential Real Estate bubble.
I know. We bought in after the pop, and got an amazing deal. I'm counting on increased property values due to a major company expanding in the area. After retirement we should be able to sell for a profit and retire on a lake somewhere. Planning and personal responsibility are what got us out of crap hole apartments in the worst areas of town to owning land in an up and coming area. But we are willing to deal with the inconvenience of not living in some thriving metro area to get where we want to go.
Possibly not. If the cost of housing and or length of commute becomes to burdensome then the position will remain unfilled. Or the productivity will be lost because of high turnover or someone taking the job that isn't qualified for it because they get more for the position than they would otherwise and the difference between the cost of commuting/rent with that position.
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Originally Posted by Mack Knife
and it might be a step up for them too.
Too big of a step up and productivity is lost.
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Originally Posted by Mack Knife
Then further down the ladder, someone behind them who did more than complain about everyone else and who prepared themswlves will also move up, not because of a handout but because of effort.
With lost of people competing for few jobs you have downwards pressure on wages. With historic low interest rates you have upwards pressure on housing markets where you economic growth and so the perceived long term growth in home values.
Nationally growth in productivity per capita and growth in GDP per capita is limited by the availability of reasonably priced housing in high productivity places.
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Originally Posted by Mack Knife
How it works, everything else is called being on the dole.
Doing something about limited availability of reasonably priced housing in places where we are having economic growth is in everyone's best interest. Except the current land owners in those locations.
That isn't being on the dole. That is removing an obstacle to economic growth.
Just wait, the excuses why that isn't good enough will flow.
Example:
Does it come with a high wage low effort job?
Are cars included?
House is ok but what about utilities?
Is mail delivered to the door or must I walk to the mailbox for my government checks?
No way, not without Internet and cable TV included!
Do I get mileage and per diem for the trip there?
Looks nice and clean, on what days do the maids come?
Seems sunny, the pool uses filtered water?
It never stops.
Is there a good paying job within a reasonable commuting distance from that location? That is a reason not to go there. not an excuse.
I know. We bought in after the pop, and got an amazing deal. I'm counting on increased property values due to a major company expanding in the area. After retirement we should be able to sell for a profit and retire on a lake somewhere. Planning and personal responsibility are what got us out of crap hole apartments in the worst areas of town to owning land in an up and coming area. But we are willing to deal with the inconvenience of not living in some thriving metro area to get where we want to go.
Riding the wave is a good thing to do. But for everyone on the up side there is someone on the down side. Long term health in the economy comes from dampening waves. Not pumping them bigger.
lol! Exactly. Guess what we rent. Do I complain about the price we pay...nope. Not at all. We know what we can and cannot afford. Our rent went up because PROPERTY TAXES went up.
Once again, you have been given solutions, you just fail to see them. It is not an entitlement its a personal responsibility....THAT is why you will not see, find or get a resolution.
So if the cheapest rent you could find cost 50% of your income, you wouldn't complain?
Fix the problem of low-income individuals/families not willing to move to the suburbs or to a state where they can afford the rent & pay their bills a little more easily? Because they'd have to sacrifice laying on the couch time commuting to their job?
It's up to an individual to make it work for themselves, not the tax payers to supply the easy road to individual Happiness/solve personal hangups.
My state has a huge rate of desertion due to how expensive it is to live in. The folks who move out of the state, well they don't demand blood from a stone because in a solid blue state? It all falls on deaf ears. The DEMOCRATIC DEAF EARS.
Democrats aren't out there fixing "the problem". Oh sure, they'll demand more low-income housing be built (however it gets done) and who PAYS for that both short and long term? Tax-payers.
What people who have the mind set you seem to have also never seem to realize that all they do is shoot themselves in the foot, even when they get what they want - someone has to pay for their wants/demands/sense of entitlement. It ends up hitting them in the wallet too. Sooner than later, and in ways they never think about BEFORE hand.
Or I guess you could go for the Republican solution of soaking rental property with steep extra property taxes (school prop tax rate on rental prop in Michigan is four timers the rate on owner-occupied homes) while providing $100B annually in tax breaks for homeowners.
I've seen several low rent apartment complexes trashed and abandoned, and just had to be boarded up and closed,from the types of people that move into these places. You're not going to get 5 Star on the cheap, which most people seem to want.
Obviously those landlords did not properly screen their applicants and/or fair housing laws made them rent to bad apples.
Suburbs are also getting ridiculously expensive! There is no moving further out anymore. There no affordable apartments in suburbs across America because even those are in crazy high demand.
So how do you propose we increase the apartment supply? Or do you think rents increasing by double digits annually won't cause a societal catastrophe?
Several years ago I did some cursory research and concluded that "moving outward for lower rent" is generally NOT cost-effective for most people; most people lose more in time and commuting expenses than they gain from lower rents.
So if the cheapest rent you could find cost 50% of your income, you wouldn't complain?
1) It would never happen, 2) we have kids that depend on us. All that matters is that they are taken care of and 3) If it took our family living in a 2 bedroom 1 bath place, we would do it. Phones, internet, and cable are luxuries they would be the first things to go. Including his toys. Once again...PRIORITIES.
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