the rent is too high. the pay is too low. the costs of essentials are rising.
nobody will do anything.
we're on track for self-destruction.
the rent is too high. the pay is too low. the costs of essentials are rising.
nobody will do anything.
we're on track for self-destruction.
https://www.washingtonpost.com/graphics/local/baltimore-life...
I'm looking at moving to Austin now. There are a lot more work prospects there for my girlfriend, and housing still seems reasonable compared to what I was looking at in southern California. If you can work remote or score a job in a low cost of living area, it's great. For the most part though, people are going to live near their lords.
Correction, it's a few big cities that have all the jobs and offer a chance at upward mobility.
People like us are willing and able to pay rent in places like LA and have been moving there en masse. People who used to live there are being pushed out.
Any nice house in my city gets bought up in a week. Anything crappy gets bought in a day.
- 1,477 sqft, EST. MORTGAGE $147/mo https://www.zillow.com/homedetails/408-S-Logan-Ave-Terry-MT-...
- 2,084 sqft, EST. MORTGAGE $77/mo https://zillow.com/homedetails/118-7th-St-NE-Wessington-Spri...
- 1,200 sqft, EST. MORTGAGE $89/mo https://www.zillow.com/homedetails/616-S-12th-St-Tekamah-NE-...
I'm planning on moving next year, and the top metros I'm considering are LA and Las Vegas. I have a slight preference towards SoCal, but Vegas's dirt cheap cost of living is really, really tempting. Looking at Zillow listings, I can get a house in Vegas (well, Spring Valley technically) that's considerably bigger than my place in Dallas for the same amount for rent.
Vegas relies on the Colorado River, which is very overtaxed for what it supports now (Vegas + Phoenix)
http://www.newyorker.com/magazine/2015/05/25/the-disappearin...
ehhhhh seems pretty damn cheap
We should be forcing low-density development residents and business to pay their own way on infrastructure build-outs around coastal and near-waterway metropolitan areas, and increasing population densities of the urban cores to around 25-30K per square mile on average, but the way the real estate business is structurally organized in the US and so tightly interwoven into our financial structures, there are very few ways I foresee how to accomplish that without excruciatingly high residential pricing, and all those ways are very uphill wars on powerful, entrenched economic interests.
I'd argue that's slightly evened out by prices that don't fluctuate as much by location. ex: In my midwest city I own a 3br 1500 sqft house that cost 190k and my wife and I gross over 160k. In an SV or Seattle type area we could be double the income and 10x or more for same house so it seems like we're getting a sweet deal right? But plane tickets, automobiles, many smaller consumables, anything you can buy on amazon, higher priced hobby items (phones, road bike, etc), are relatively inelastic to location. So we pay a larger share of our income than if we lived in a high-income area. To a certain extent, fuel as well. I regularly travel to chicago, seattle, and intermittently to LA area and gas prices are only marginally higher than in my low tax red state. While not so static, the cost is a bit baked in there as it's a larger proportion of my income to fuel my car.
That said, I'd have to put real numbers into this to see if my counter argument holds. You may be right that we underpay at a macro level and have some arbitrage. Your message just seemed to suggest it was obvious which I don't think is the case.
Sorry, I'm not writing clearly enough. Inland areas should have fewer and smaller population centers, and what do exist, should be dense, if we were eyeing our position on the Kardashev and concerned about where our next big energy sources are coming from.
Jobs, affordable housing -- pick one.
There are a few bargain markets like Detroit, but not many.
Prices are generally cheap to average, but taxes are high and the urban areas are on track to complete fiscal meltdown due to the some of the parameters around public safety contract negotiations and other factors.
In my case, my property taxes are about 3.5% of home value.
Also, the environment for commercial development is pretty bleak. If you have a job, it's an awesome place to live and work. But it's hard to get one, and mobility between employers is limited.
It's still an order of magnitude cheaper to live here than SFO and significantly less than the NY Metro or Boston Metro areas.
I've been thinking about this for a while, thanks to the Texas State Legislature making several attempts to override local government and give the finger to local control this year. State legislatures are often heavily gerrymandered, with undue weight given to the rural parts of the state. As such, it's not uncommon for rural-dominated state legislatures to attempt to force their social agendas on the cities, even though the vast majority of the state's population is in the cities. See also North Carolina's HB2. For a while I was thinking that any city over 100k people should be independent of any state, but on further reflection I think just making the CSAs independent of states instead of drilling down to the individual city level would be a better way to go.
The state government's funding model is based on Wall St bonuses -- already at risk as more and more finance moves to Jersey and D.C.
Doesn't look so cheap when I'm going to get laid off and have to move back to one of the expensive areas afterward.
The downside being you live in Murfreesboro.
If one is willing to do without the conveniences and hedonism of urban and suburban areas, most of the country is eminently livable on very little income.
I would encourage you to sign up for the newsletter here: https://yimbyaction.org/mailinglist/ which will keep you updated on initiatives to help increase the supply of housing.
I've previously linked to steps we can take in California to help increase the supply of housing in CA and encourage you to contact your city officials about whichever of these you feel inclined to. https://news.ycombinator.com/item?id=14195301