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Comment by Cloudef | Hacker News Reader

It's not like young generations could afford to own anything anyways anymore.

Don't let the ridiculous prices of an urban center deter you. I assume you live in a very large country. Especially don't let the ridiculous prices of an urban center drive you to change the pricing and ownership system of said rest of the country.

Growing wealth is a simple formula: [amount spent] < [amount earned]. Rinse and repeat for a given length of time, and you will have more wealth than you started with.

That's the goal, didn't you know? Take away everything and then try to convince them that they should like it that way.

Get a job!

>Across the country, Tekin found that "[m]edian home prices have increased at four times the rate of household incomes since 1960," meaning homeownership is increasingly out of reach for many Americans. Rents, meanwhile, have grown roughly twice as fast as adjusted wages between 1960 and 2017.

https://kinder.rice.edu/urbanedge/2019/07/25/gap-between-inc...

Mortgage rates move inversely with house prices (because many buyers, especially marginal buyers) are buying houses based on the monthly payments more than on the HUD-1 statement price.

By that admittedly too-simple analysis, houses peaked in unaffordability in 1980 and have been only modestly less affordable since 2000. (Much of this is likely explained by the median house in 2000 being much larger than the median house in 1960, having nearly doubled in size between 1973 and 2016.)

[0] https://docs.google.com/spreadsheets/d/1z-A7AhhKNcVbvq_n8fPP...

[1] https://www.aei.org/carpe-diem/new-us-homes-today-are-1000-s...

Got a job at minimum wage.

No future prospects, stuck in a rut, deadend boringness.

Proceeds to kill self. At least toast was nice.

I have a job and I get paid much better than average person here. However I still don't feel very wealthy, and there's lots of wealth imbalance in this country. The younger people are even more fucked. I'll probably be fine considering I earn more than average, but I'm seriously concerned with the trend however.

Sure we can own trivial things like laptops and what not, but that's not really something to secure your future with. Younger generations will be forever slaves and work to the grave, unless you happen to be born in fortunate family or get incredibly lucky.

Yet, they can afford $9 for avocado on toast, mac laptops and over priced beats headphones.

Kidding, but only sort of.

I'm gonna not eat so much avocado toast that one day i can afford a 2 million dollar house

What nonsense. Maybe home ownership is out of reach for many young people, but they all seem to have a laptop, mobile phone and huge pair of headphones. Young people have always been the poorest section of society, but that makes complete sense as they haven't has the time to accumulate any wealth. Eventually they become old people.

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