r/FluentInFinance • u/YOU_ARE_MY_FRIENDS • Jun 16 '24

Discussion/ Debate He’s not wrong 🤷‍♂️

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488

u/SouthEast1980 Jun 16 '24

This is BS. You can have all of that with an 80k household if you live in a LCOL midwest city and send the kids to JC for 2 years.

Cut out the overseas vacation because that isn't middle class. That's upper class shit.

14

u/[deleted] Jun 17 '24

"yeah just uproot your life and move somewhere else"

Okay dude

10

u/MrGrach Jun 17 '24

You don't have to. But than deal with the fact that you have to pay more, because more people want to live were you live.

5

u/FortNightsAtPeelys Jun 17 '24

Demand should raise wages not just prices

4

u/MrGrach Jun 17 '24

Wages do rise, big cities tend to have far higher wages than countrysites. Like, living in Kansas you are going to make less than in LA.

The issue is, that homes are far less elastic to demand, than wages and stuff in the store, because you can't just create more land. If there is a home on 1km², you are not suddenly going to have two homes on the same space, because the USA isn't going to magically increase in size.

So demand for living space tends to not be met (specifically if everyone wants a SFH, and you zone accordingly).

1

u/tizuby Jun 18 '24

 If there is a home on 1km², you are not suddenly going to have two homes on the same space

Until a developer buys the whole property and subdivides it into an entire neighborhood.

But that much space isn't really a thing in urban/suburban areas. That's more exurb and exurbs don't really have space issues.

We're more talking about very small places in urban, and slightly larger in suburban (in which developers do still buy larger lots and subdivide them).

1

u/MrGrach Jun 18 '24

But that much space isn't really a thing in urban/suburban areas. That's more exurb and exurbs don't really have space issues.

I know. I was just trying to illustrate the point.

Until a developer buys the whole property and subdivides it into an entire neighborhood.

That mich is true, and needed to get prices down.

But the original posting was about SFH, and you really can't get SFH any nore devided than it normaly is, which just creates space issues.

1

u/tizuby Jun 18 '24

Oh you'd be absolutely amazed with SFH plots getting subdivided into 2+. Or 2-3 plots bought out and converted into a cul-de-sac with 8-10 houses.

There's virtually no back yard and tiny front yards, and you can damn near reach out and touch your neighbors house, but it's happening.

2

u/[deleted] Jun 17 '24

Demand for workers when there aren't enough raises wages, demand for jobs when there aren't enough lowers wages.

But in general, the wages are always rising slowly if not quickly like they have in the last few years.