Trigger warnings, safe spaces, and fascism on college campuses

[Jeff Lebowski]

Fair points. I would push back on the housing.

Today's median homes are simply much larger and nicer. So where are all the affordable homes that our young people should be buying? Governor Cox recognizes this, along with a housing shortage overall, and has been trying to get builders and communities to provide more affordable housing.

And less access to housing means less access to building wealth. Housing is one of the primary ways middle class have used to build wealth.

Where do we go from here? Does low fertility, AI and robotics fix all these issues or make them worse.

Yes, today's median homes are simply much larger and nicer. That is the whole point!

People don't want to live in box-shaped 1600 sf homes with linoleum and cheap carpet and a one car garage (no door opener). These homes are not common BECAUSE NOBODY WANTS THEM.

And yeah, this will all be resolved by collapsing birth rates. Just look at Japan.

Also, home prices are collapsing as we speak. The bubble has popped.

[falafel]

Median size of a new home today is 38% greater than in 1980 while family size has decreased slightly. Larger homes carry higher prices, even when measured on a price/sq foot basis.

Sure, but individuals can't control that. Who is building 1940s-size houses? The market is the market.

[falafel]

Yes, today's median homes are simply much larger and nicer. That is the whole point!

People don't want to live in box-shaped 1600 sf homes with linoleum and cheap carpet and a one car garage (no door opener). These homes are not common BECAUSE NOBODY WANTS THEM.

And yeah, this will all be resolved by collapsing birth rates. Just look at Japan.

Also, home prices are collapsing as we speak. The bubble has popped.

Excellent news for me.

[Moliere]

The lack of understanding of economic principles is just alarming both in the politicians and in the population as a whole. People complain about not being able to make ends meet, but yet 360 million Americans are making ends meet, somehow. And at the same time they are living a higher standard of living on average than anything imaginable 50 years ago. If a two income household, where both adults have college degrees, are living paycheck to paycheck, there likely is something structurally wrong with their life. Either their house is too big, their comfort expenses are too high, or they got a degree in a field that doesn’t increase income potential.

It’s basic economics that scientific progress raises the standard of living for everyone. Most homes of people I’ve counseled with that are “underwater” have two cars, two fridges, three bedrooms, two and a half bathrooms and a sizable backyard, not to mention their kids go to great public schools. Add on the fact everyone in the family has cell phones and the kids all do extracurricular activities. It’s incredible the lives people have today compared to just a couple decades ago.

The main problem people have is comparing themselves to other people and wanting to have more. Income equality is definitely an issue, but even if we taxed all billionaires out of existence, that’s not where that problem lies and we’d still have the same issues we’ve always had. I do think the gaudy salaries paid to executives is a problem but it’s not one that hasn’t been worked on…it can be worked on more through other means than just taxes or visibility.

From an economics perspective there’s a set amount of dollars in the monetary system and forcing people to liquidate non monetary assets isn’t going to fix anything. Socialism isn’t going to fix anything.

[Northwestcoug]

People don't want to live in box-shaped 1600 sf homes with linoleum and cheap carpet and a one car garage (no door opener). These homes are not common BECAUSE NOBODY WANTS THEM.

maybe not in your neck of the woods, but I’ve watched standards drop precipitously when the price tag shocks. Ok not lino but certainly cheap manufactured flooring that has warped after a few years, and the absence of a garage not being a dealbreaker.

someone earlier said that more people are looking at townhomes/condos as their first home ownership. I definitely see that in my sphere.

[Northwestcoug]

Sounds like your kids are doing pretty well overall (congrats!).

Nobody said that "kids ALWAYS eating out and NEVER having food at home". Come on. But people in general eat out FAR more often than they used to.

Oh absolutely. More than double the amount my wife and I experienced when we grew up. I think all of our kids could save a decent amount of money with better food planning. I estimate Starbucks runs alone cost my daughter 150 a month. It’s basically every day. But it’s a small luxury in her busy life, she can afford it, and the saved money will not make a dent in her 450K in med school debt.

[Bo Diddley]

Our first home had a skirt in its description and it met all of our needs wonderfully.

[Moliere]

Oh absolutely. More than double the amount my wife and I experienced when we grew up. I think all of our kids could save a decent amount of money with better food planning. I estimate Starbucks runs alone cost my daughter 150 a month. It’s basically every day. But it’s a small luxury in her busy life, she can afford it, and the saved money will not make a dent in her 450K in med school debt.

$150 per month invested in the market would be between $220k and $420k in 30 years. Not that she could payoff her med school debt that way but the miracle of persistent saving/investing and compounded returns are lost on most people.

[Northwestcoug]

$150 per month invested in the market would be between $220k and $420k in 30 years. Not that she could payoff her med school debt that way but the miracle of persistent saving/investing and compounded returns are lost on most people.

Yep. Even me in my hyper-aware of retirement needs stage of life, more frugal decisions are there for the taking. But as my friend who had even less of med school debt than me counseled long ago, you gotta live.

[Northwestcoug]

maybe not in your neck of the woods, but I’ve watched standards drop precipitously when the price tag shocks. Ok not lino but certainly cheap manufactured flooring that has warped after a few years, and the absence of a garage not being a dealbreaker.

someone earlier said that more people are looking at townhomes/condos as their first home ownership. I definitely see that in my sphere.

Ha I spoke too soon. We’re traveling back home and we spent the night at our daughter’s apartment, north of Seattle. Not only does it have cheap warped manufactured floors, there is Lino and cheap carpet! And it’s 1500 square feet!

They can afford the rent, but would be priced out if they were trying to buy a similar house. Just doing my part to document the existence of younger people accepting lower quality properties.

[Donuthole]

Ha I spoke too soon. We’re traveling back home and we spent the night at our daughter’s apartment, north of Seattle. Not only does it have cheap warped manufactured floors, there is Lino and cheap carpet! And it’s 1500 square feet!

They can afford the rent, but would be priced out if they were trying to buy a similar house. Just doing my part to document the existence of younger people accepting lower quality properties.

1500 sq ft is a big-ass apartment. How many kids and dogs do they have to need that much space?

[Northwestcoug]

1500 sq ft is a big-ass apartment. How many kids and dogs do they have to need that much space?

Um, that’s two adults and TWO cats! Surely you don’t expect those cats to remain cooped up in their previous 800 sq ft of space do you?

[Moliere]

Um, that’s two adults and TWO cats! Surely you don’t expect those cats to remain cooped up in their previous 800 sq ft of space do you?

My first house, I'm talking stand-alone house in West Valley City, was only 1,340 sq ft. Maybe they should downsize and buy a coffee maker.

[Northwestcoug]

My first house, I'm talking stand-alone house in West Valley City, was only 1,340 sq ft. Maybe they should downsize and buy a coffee maker.

The crazy thing is they have a coffee maker, and they don’t use it; they do energy drinks (this isn’t the daughter who has the profligate Starbucks habit).

the house is bigger than what they need no doubt. I think they were happy to get something roomier than the Seattle apartment they lived in for the last two years.

[Pelado]

My first house, I'm talking stand-alone house in West Valley City, was only 1,340 sq ft. Maybe they should downsize and buy a coffee maker.

Our first house - before we had any kids - was 1413 square feet (according to the county assessor's office) with four bedrooms, two bathrooms, a bonus room, and a two-car garage. Bigger than we needed but started feeling too small after just one kid.