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The real reason big tech like unaffordable cities
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2018-11-18 at 1:53 AM UTC
Originally posted by aldra I think it's more often that big tech companies make cities unaffordable
This, the bay area wasn't nearly as expensive as it is today when Google was starting up, and before it became a VC haven. And it's obvious to everyone who's watching that a primary driver of rising housing costs is the influx of people to the area for work reasons with big incomes.The following users say it would be alright if the author of this post didn't die in a fire! -
2018-11-18 at 2:32 AM UTC
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2018-11-18 at 1:41 PM UTC
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2018-11-18 at 1:48 PM UTC
Originally posted by Lanny This, the bay area wasn't nearly as expensive as it is today when Google was starting up, and before it became a VC haven. And it's obvious to everyone who's watching that a primary driver of rising housing costs is the influx of people to the area for work reasons with big incomes.
Real estate in the US in general is twice as expensive now as it was then, and that's including a lot of backwood areas.
https://fred.stlouisfed.org/series/CSUSHPINSA -
2018-11-18 at 4:40 PM UTC
Originally posted by Odigo Messenger - Now With Free 911 Service Real estate in the US in general is twice as expensive now as it was then, and that's including a lot of backwood areas.
https://fred.stlouisfed.org/series/CSUSHPINSA
bay area was probably more expensive than the average even then. -
2018-11-18 at 4:51 PM UTC
Originally posted by vindicktive vinny bay area was probably more expensive than the average even then.
https://fredblog.stlouisfed.org/2017/10/incomes-determine-house-prices/?utm_source=series_page&utm_medium=related_content&utm_term=related_resources&utm_campaign=fredblog
It was pricey back in the 00s.
The third graph on that page seems to be broken, but they have a stupid conclusion, that wages drive house price increases. Much more likely that investment demand drives house prices. -
2018-11-18 at 5:56 PM UTC
Originally posted by Odigo Messenger - Now With Free 911 Service https://fredblog.stlouisfed.org/2017/10/incomes-determine-house-prices/?utm_source=series_page&utm_medium=related_content&utm_term=related_resources&utm_campaign=fredblog
It was pricey back in the 00s.
The third graph on that page seems to be broken, but they have a stupid conclusion, that wages drive house price increases. Much more likely that investment demand drives house prices.
without ownership data its impossible to say which is which.
it could be due to people with high income slurping all the houses,
or it could be rent seekers and speculators taking up all the houses to be rented out for profit or sell when they appreciate to other speculators.
investing in real estates should be illegal.The following users say it would be alright if the author of this post didn't die in a fire!
