Saving For a Space Ship Posted June 17, 2018 Share Posted June 17, 2018 Affordability Crisis: Low-Income Workers Can't Afford A 2-Bedroom Rental Anywhere In America https://www.zerohedge.com/news/2018-06-15/affordability-crisis-low-income-workers-cant-afford-2-bedroom-rental-anywhere Quote Link to comment Share on other sites More sharing options...
anonguest Posted June 17, 2018 Share Posted June 17, 2018 (edited) Big deal. I'd hazard a guess that in the UK low income workers can't afford a 1-bed rental purely out of their own income (i.e. without having to make use of LHA, etc). Those Yanks don't know how good they've got it! Edited June 17, 2018 by anonguest Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 17, 2018 Share Posted June 17, 2018 Its why Feds raising rates. Quote Link to comment Share on other sites More sharing options...
anonguest Posted June 17, 2018 Share Posted June 17, 2018 6 minutes ago, spyguy said: Its why Feds raising rates. Wot? So our U.S debt ridden/addicted cousins across the pond will have even less money in their pockets to spend on rent - after paying higher interest on everything else in their lives? Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 17, 2018 Share Posted June 17, 2018 10 minutes ago, anonguest said: Wot? So our U.S debt ridden/addicted cousins across the pond will have even less money in their pockets to spend on rent - after paying higher interest on everything else in their lives? No. Lower incomee earners prefer cash based invesments. Higher IRs will give them a better return and reduce housing asset prices. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted June 17, 2018 Author Share Posted June 17, 2018 31 minutes ago, anonguest said: Big deal. I'd hazard a guess that in the UK low income workers can't afford a 1-bed rental purely out of their own income (i.e. without having to make use of LHA, etc). Those Yanks don't know how good they've got it! The Us had a much bigger hpc in many places , compared to the uk, so housing should be more affordable in US Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 18, 2018 Share Posted June 18, 2018 (edited) 12 hours ago, spyguy said: No. Lower incomee earners prefer cash based invesments. Higher IRs will give them a better return and reduce housing asset prices. THIS. The poor think they are better off with low IRs, but it's the low IRs ( high asset -prices ) that is destroying them. The poor are stupid. Edited June 18, 2018 by TheCountOfNowhere Quote Link to comment Share on other sites More sharing options...
Dorkins Posted June 18, 2018 Share Posted June 18, 2018 13 hours ago, anonguest said: Wot? So our U.S debt ridden/addicted cousins across the pond will have even less money in their pockets to spend on rent - after paying higher interest on everything else in their lives? Low income workers don't have much debt. You have to be a middle or high earner to qualify for an eye watering mortgage. Quote Link to comment Share on other sites More sharing options...
winkie Posted June 18, 2018 Share Posted June 18, 2018 32 minutes ago, TheCountOfNowhere said: THIS. The poor think they are better off with low IRs, but it's the low IRs ( high asset -prices ) that is destroying them. The poor are stupid. The rich can also be stupid......that is why sometimes they end up being poor.... anecdotal of course.? Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 18, 2018 Share Posted June 18, 2018 49 minutes ago, Dorkins said: Low income workers don't have much debt. You have to be a middle or high earner to qualify for an eye watering mortgage. They dont have a lot of debt, in the big scheme of things. But they pay thru their noses for it. Anything that encourages lower income people to save and avoid loan sharks/ManFrom Provi i.e. raising IRs for cash is a *GOOD* thing. QE - the fuxxed up idea that credit can be centrally planned by CB making credit decisions and picking winners i.e. the asset rich and heavily in debt is fuxxed up beyond belief. Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 18, 2018 Share Posted June 18, 2018 1 hour ago, TheCountOfNowhere said: THIS. The poor think they are better off with low IRs, but it's the low IRs ( high asset -prices ) that is destroying them. The poor are stupid. No. The poor have limited choices. Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 18, 2018 Share Posted June 18, 2018 59 minutes ago, spyguy said: No. The poor have limited choices. That is very true. The system is designed to keep them down. All the promises of social mobility, classless society etc are ********, propaganda spouted by the upper class people who will do everything to maintain their position and keep people in their social structure. Quote Link to comment Share on other sites More sharing options...
thewig Posted June 18, 2018 Share Posted June 18, 2018 (edited) Problem: low income earners can’t afford a 2bed Solution: just bang the rents up to price out the mid income earners too and attract some premium high income scumbag tenants (no pets no children no pictures no blacks no Mexicans no) KER-CHINGA!! Edited June 18, 2018 by thewig Quote Link to comment Share on other sites More sharing options...
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