[HN Gopher] Americans Need to Be Richer Than Ever to Buy Their F...
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       Americans Need to Be Richer Than Ever to Buy Their First Home
        
       Author : paulpauper
       Score  : 10 points
       Date   : 2025-10-15 21:13 UTC (1 hours ago)
        
 (HTM) web link (www.bloomberg.com)
 (TXT) w3m dump (www.bloomberg.com)
        
       | asdff wrote:
       | Depends where of course. All over the south and the rust belt
       | midwest home prices have been more or less stabilized over the
       | past 35 years or so. Even if they "went up 30% in covid" that
       | could mean they only went up another 30k or so realistically. The
       | land of 70k jobs and 150k 3-4br houses where all is well.
       | 
       | Then you go to the hot markets and salaries for comparable
       | positions are only like 20% more but the exact same home
       | (actually on west coast, subtract the full basement and lot large
       | enough for a detached two car garage) is 10x in price or more.
        
         | DaveZale wrote:
         | my single family home went up 40% in market value during Covid.
         | More property tax should be great for local govt coffers,
         | right? Wrong! Now local govt is cash strapped again. So we have
         | new ballot measures for providing kids with meals, but only
         | from taxes on those making $300k+ annually. Where is the money
         | going?
         | 
         | Meanwhile, the number of vehicles that need mufflers is
         | increasing. It's audible. That is a reliable sign of economic
         | distress.
         | 
         | Nobody can buy a house without a down payment and reasonable
         | job security. The economic gulf widens.
        
           | jschveibinz wrote:
           | Benefits are the cause of increased cost in school systems:
           | 
           | https://reason.org/commentary/administrative-bloat-isnt-
           | the-...
           | 
           | Benefits are likely affecting municipal government in the
           | same way.
        
           | RandomBacon wrote:
           | > More property tax should be great for local govt coffers,
           | right? Wrong!
           | 
           | Their costs probably went up too.
        
       | gabrielsroka wrote:
       | 2023
        
       | codingrightnow wrote:
       | The American dream is dead and none of our politicians on the
       | right and not enough on the left are talking about it. The
       | American dream isn't to get filthy rich by providing an
       | innovative product or solution and gobbling up an astronomical
       | percentage of monetary resources. The dream is to come out of
       | college with easy to repay debt or work a trade with a good
       | union, be able to buy a home after a few years of saving, start a
       | family, not go deep into credit card debt just to survive, and
       | retire on time. None of that is feasible anymore and will not
       | without major changes. Trump may think he's bringing that back
       | with his tariffs but it's not a one fix problem. Many things need
       | to be addressed that we are not willing to talk about.
        
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       (page generated 2025-10-15 23:02 UTC)