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by authorfly
456 days ago
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Well inability to own a house was a major prelude to the 1930s economic and later conflict issues, particularly in western Europe (where it was more expensive in places like Britain to buy a house than even today, about 10-14x salary vs 8x today). House prices have been how they are now before: in the 1920s... (America is a bit of an exception because of all the expansion into California etc in the early 1900s). Male crime rates correlate with economic opportunity too, so even if you don't care about the 1930s and the economic reset of WW2 and its rebuilding (and WW1, but to a lesser extent), you should care about the possibility of crimes rates continuing to regress. Serious crimes don't get solved at a much higher rate than in the past, even if they have decreased since the 90s. Home ownership is a lagging indicator and doesn't show the whole picture: If people used to buy a home at 25 and move into it, but today they wait and live in their parents house until 30 before moving into a home, the stats might appear the same. The quality of life won't be. Home ownership rate needs context too, in some countries rent is low and house prices are high(er than the US), where many people rent through retirement, and where the implication of rising house prices is not as bad unless rent also raises. |
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As I asked before, what do you propose? Rent control? Affordable higher education? I agree with that. But half of America as seen by the support of DOGE and the lack of support for student loan forgiveness of any kind don’t. America is getting exactly what they voted for - especially in the poorest, least educated states that vote Republican.