Comment by Danox | Hacker News Reader

Comment by Danox | Hacker News Reader

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All of the English speaking capitalistic countries are suffering from the same problem the United States, Canada, Great Britain, Australia, and New Zealand.

Housing un affordability for the next generation coming up, starter homes in California are easily at least 500,000 the old two bedroom one car garage starter house I grew up in cost $550,000 today built in the 1925. There is no way anyone in the surrounding area for the most part make enough money to afford to buy it today.

The one thing that is going up all over the place across the country are those so-called luxury apartments which cost an arm and a leg even for a one bedroom studio, the one thing that is interesting or ironic. The only reason I can afford to buy anything is because relatively late in life bought as many shares of Apple computer as I could about 21 years ago.

Anyone coming up between 18 and 30 are in trouble unless their family is relatively well off and can help them.

> All of the English speaking capitalistic countries are suffering from the same problem the United States, Canada, Great Britain, Australia, and New Zealand.

A third world country like India has costlier real estate than any of those. A 2nd rate metro has apartments in high rise buildings for $500K - $1M. Unbelievably expensive. Then there are villa communities (equivalent of single family homes, suburbs), which are even more costlier. I keep asking people how do they afford these and how will this sustain, nobody has an answer about how these are afforded but everyone thinks the growth will continue. The usual problems of mosquitoes (dengue, malaria), water problems, power outages, lifts not working, worst air quality, etc, etc .... looks like the only thing copied from western world is super costly real estate.

Luxury apartments are BS. Lived in one. Slightly above builder grade materials, stainless steel appliances (that are still cheap), Pelotons in the gym and Starbucks in the main area are cool, but the walls are still thin and shit still breaks like anywhere else.

Luxury apartment is a term of marketing, all new builds use it. The main problem is the management tends to be lackadaisical. My current place is ~5yo, has great sound isolation, but responsiveness has varied over time and teams.

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