Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Not exactly. What makes the rent so high? It's because there is demand for it that landlords can hold their heads high.
One can't afford something because there are too many people competing and they have more. It could also be due to the lack of housing.
It is also because so many people finance things, and that increases their virtual buying power and price. And then they have to deal with the bank. For poor people who are frugal, their options are thus limited if they don't want to take out a loan.
I think for everyone who didn't come from money background, there is always a period of struggle, cheap living, etc. if you are smart and make strategic use of such a period, you may eventually walk out of it. I think many affluent people were not affluent 20 Years ago. They still remember renting a cheap apartments with bad roommates, struggling to write letters and honing their skills, putting their heads down when they didn't have power. But often these people would give you really good advice because they were once not affluent and they know what it is like and how to get better.
Wealth is built slowly and gradually. Saving $100 a month may not seem much but is absolutely worth it.
Why are there too many people competing? NIMBY, smart/slow/no growth, illegal immigration are some reasons.
The poor often pay more for housing while getting less, e.g. I'm paying $500 to rent a room in an overcrowded drunken soap opera house in a crummy neighborhood. Previously I paid $650 to rent a room in an overcrowded drunken house in a different crummy neighborhood. Normal room rents are more like $400.
One thing that baffles the hell out of me when I listen to many people who consider them self's left-leaning is when they talk about the rich and capitalism in a negative way and how the wealthy want every to be poor.
Perhaps I am missing something, but how is it possible to make money of others being poor? How is poverty profitable? How can a rich dude become richer by making someone else poor? Please explain the economics behind this to me.
When economic growth is distributed mainly to one sector of an economy, that sector becomes richer while the others become poorer. This is what we've seen in the US, and perhaps that's what people mean.
I'm not in the 1%. In fact I'm probably in the 48/49th percent even though I'm still young and I gain net worth every year due to the stock market and investing. How are the rich robbing from me?
The stock market is not a level playing field. The top 1% trade better and faster than you and I.
Of course not, but the poor tend to pay more than others while getting less. Like I'm paying $500 to rent a room in a crummy neighborhood in an overcrowded house with eight people and a drunk.
I'm not in the 1%. In fact I'm probably in the 48/49th percent even though I'm still young and I gain net worth every year due to the stock market and investing. How are the rich robbing from me?
if you do not have a zero or a negative net worth in the eyes of the poor you are the rich.
i remember when i was first starting out a bum on the bowery came up begging for money saying he had nothing .
i told him suck it up , he is in better shape than me since i had less than nothing and owed loans for going to a trade school. he had zero and i had a negative net worth. who was in better shape?
Of course not, but the poor tend to pay more than others while getting less. Like I'm paying $500 to rent a room in a crummy neighborhood in an overcrowded house with eight people and a drunk.
I'm pretty sure that a rich person would pay $500 to stay in that room. In fact, they might have to pay more, once it's known they're "rich".
??? Why would a rich person pay $500 to stay in that room when they have the option of paying $400 to stay in a better room, in a better house, with modern amenities, fewer and better roommates, in a better neighborhood with more infrastructure, more amenities, and fewer gangbangers?
You cannot successfully charge a rich person more, precisely because they have other and better options; hence the failure of state and local tax hikes to generate additional revenue.
a penny doubled every day for 31 days is 10 million bucks.
Pretty soon, the doubling becomes unsustainable.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
