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Originally Posted by stone hands
But what I'm saying is what you say is average is actually rich people stuff, and just because everyone signs themselves up for a lifetime of neverending debt to have material objects that dont actually contribute to an individual's overall happiness doesnt mean that it's a bad thing that this is getting out of reach for people - they never should have been able to reach it in the first place
It seems like you're somewhat on my wavelength on the practical side of this, so let me ask you why it's a bad thing that people are actually forced to live within their means? The faster people divorce themselves of the idea u need to own multiple vehicles to fill the garage in your gigantic detached home that's spacious enough to stage all the material stuff you bought on on an impulse with credit doesnt actually contribute to a happy and fulfilling life the better, no?
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I sort of am on the same wavelength. But I also believe that there's something fundamentally wrong with our economy. I believe that our salaries have been artificially deflated and are divorced from reality.
For example, my single mom was able to purchase a newer, but modest 3 bed room home in a premium lake community and purchase a 3 year old sedan while working full time in retail. This was on her own, only 25 years ago.
That exact same home is now worth north of 450k. The fact that 2 professionals would struggle to make a life in my childhood home work is a bit insane.
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Originally Posted by edslunch
If the average family can’t afford average things then why are those things average? People are over-extending themselves with cheap credit to live beyond their means and the market is responding by raising the average cost. If people stopped buying $500k houses the cost of housing would drop.
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No, that's not the case. If everyone is rushing out to purchase a $350k home, then that would suddenly push the price of that home up to $512k.