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Comment by greatpostman | Hacker News Reader

Dude I want to afford a nice home and retire. The FED has destroyed the housing market and effective wages. Get a grip

That was NIMBYs. Worry about real economic constraints.

You live in one of the richest countries in the world and probably make 4x median income even for the US anyway. Move somewhere else if you want your money to go further.

Nope it’s from cheap money

It takes two: demand provided by cheap money, and supply capped by NIMBY zoning.

Neither alone is enough.

That's why with all this cheap money, computers are more expensive than ever!

I'd much rather pay more for a home than to have my bank account magically go up in smoke for no reason of my own.

> no reason of my own

Other than giving your 97% uninsured money to a place without checking its financial situation and pretending you're not just another creditor.

Unless you have more than 250 k, that was never really a possibility

Voters in your area who block(ed) all new construction destroyed the housing market. Your blame is misplaced.

House prices are up quite a bit in areas that are rapidly building

That's reverse causation. Proper question is how much they were building the last three decades, and if it's outrunning new household formation* now.

There are places with cheap housing in the US, generally not in the good jobs areas but if you're retiring that's not so much a problem.

* that's when people move out of their parents' house or decide to not have roommates anymore

Well it's voters across the US, especially in urban areas with booming economies. Some places are trying to construct housing but can't cope with the influx of new homebuyers. Since there are no internal immigration restrictions, we have a national housing market with only partial local differentiation.

Lack of government action on housing destroyed the housing market much more than the fed.

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