People buying their first house almost never got new housing - ever. They’d buy a starter home, which was older, needed some work, etc.
A big issue here is expectations - people are complaining because they can’t buy their own standalone house in a good neighborhood right next to work - while work is in a high demand, high pay area.
Also, well paid work is centralizing, so so the gradient is getting steeper (or was, pre-remote work).
Guess what, that was never the norm!
But a lot of people did buy in what were at the time low demand, high supply, areas that later became high demand areas! Like early Los Angeles.
Also, everything is getting more expensive relative to ‘hour worked’ because of centralization of capital, and more work force participation.
A big issue here is expectations - people are complaining because they can’t buy their own standalone house in a good neighborhood right next to work - while work is in a high demand, high pay area.
Also, well paid work is centralizing, so so the gradient is getting steeper (or was, pre-remote work).
Guess what, that was never the norm!
But a lot of people did buy in what were at the time low demand, high supply, areas that later became high demand areas! Like early Los Angeles.
Also, everything is getting more expensive relative to ‘hour worked’ because of centralization of capital, and more work force participation.