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Srs question: what will result from intergenerational inequality?
| Dashing translucent kitty cat nowag | 02/19/18 |
| Histrionic roast beef state | 02/19/18 |
| Dashing translucent kitty cat nowag | 02/19/18 |
| Histrionic roast beef state | 02/19/18 |
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Date: February 19th, 2018 9:26 AM Author: Dashing translucent kitty cat nowag Will millenials all hie to sunbelt cities? If wages remain stagnant relative to appreciation of assets that favor olds (stocks, real estate) will that even matter?
Relatedly, how will places like SF/LA/NYC function without entry level or lower-level workers? |
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Date: February 19th, 2018 9:28 AM Author: Histrionic roast beef state people in their 20s are fine sharing apts, not buying real estate. entry level, lower-level white collar worker supply will be fine.
people move out once they enter 30s if they can't afford nyc/sf so yea millenials are now starting to move out. families that can't afford nyc/sf but still need to be there for work end up with 1 stay at home or PT spouse and another spouse with a shit commute.
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Date: February 19th, 2018 9:36 AM Author: Dashing translucent kitty cat nowag lots of people do need (or think they need) to be there for work, at least right now.
At some point soon, though, the cost/benefit to middle-class striverdom in those areas isn't going to be worth it.
Not to mention, with rents rising relative to income, fewer people are going to be able to transition from renting in cities (to keep relatively high-paying jobs) to saving up for a downpayment in the burbs.
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Date: February 19th, 2018 9:37 AM Author: Histrionic roast beef state some will leave nyc metro area. some will stay and have shit commutes. lots of the women will quit so the husband will be gone all day at work and on his shit commute but they can buy cheaper further out real estate in a white enough district to raise kids. this has always happened in large metros as people enter 30s and start families. only the rich, the poor, the young (and the childless) live in NYC and immediate suburbs.
rents are trending down. |