this post was submitted on 19 May 2024
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Housing Bubble 2: Return of the Ugly
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I dont disbelieve these charts, I just wonder how clean the data is. Take New York for example, if you remove stuff overlooking central park in heritage listed buildings and so on, how much does the average improve?
Theres no argument that cost of living is absolutely fucked and only getting worse, but there was never a time in my life when I could afford a charming little apartment on the Champs-Élysées. I just REALLY cant afford it now.
Average rent in the US is $1600. I'm not sure what's so unbelievable.
Yeah, thats the average. Which includes stuff in locations that were never affordable for regular folks and never were intended to be. I googled "manhattan apartments" and found one that was a 5 bedroom for $90,000 a month. Marble bathrooms, terrific views... But when your talking about housing affordability, that apartment was never intended to house regular working people.
Which makes the average skyrocket, which makes the landlords of very average properties think that they can just turn up the noise.
While median might have been interesting, by targeting two bedroom apartments, that already excludes luxury living (never would tolerate so few bedrooms). Of course it also excludes a lot of rural living by being apartments, which may skew things up a bit.
You can't base a public policy for 320 million people on the fact that you can dig up a few affordable apartments on rent.com. I'm not sure why toadies like yourself can't seem to understand this.