Housing The Everything Crisis?

[Zardnaar]

Interesting video about how the housing crisis basically feeds intobl everything else going wrong.

It's a bit simplified eg NZ gets a shout-out but his solution is build more houses which we are kinda doing. NZ and Canada are a bit anead of most in the housing crisis crunch. Prices here are starting to drop after 2 years of 20%+ gains tending an upward trend since 2003.

Anyway my basic argument is that wealth inequality which is largely tied to housing is the prime factor driving extremism. Video points out populists of all polical stripes fail at fixing things.

Imho they fail because they either had no intention of fixing things or the over promise simple fixes to complex problems and can't deliver.

 

[Synobun]

https://www.google.com/amp/s/globalnews.ca/news/7385959/why-do-people-hate-nickelback/amp/

Nickelback caused the housing crisis?

 

[amadeus]

https://www.google.com/amp/s/globalnews.ca/news/7385959/why-do-people-hate-nickelback/amp/

Interesting video about how the housing crisis basically feeds intobl everything else going wrong.

... you sure ‘bout that?

 

[Broken_Erika]

Nickelback caused the housing crisis?

Nickelback is the root of all evil.

 

[amadeus]

Speaking of nickels, the market rate of ideas is pretty warped.

It's a penny for your thoughts, but if you're giving them yourself, it's your two cents.

Why are people soliciting opinions always lowballing it?

 

[Samson]

I have not watch the video, but it seems to me that there is a good argument that if one solves the housing crisis then you solve a lot of societies problems.

Most crime and other interpersonal harm is driven by unmet need. Historically, and perhaps still globally, the prime unmet need has been calorie intake. However, in the west at least, we have largely solved this. I am not playing down the impact of food insecurity, but Marasmic kwashiorkor is not a major cause of mortality in the young of the west. What is still a major cause of lost QALY is lack of adequate housing. This is intensionsal, so as to maintain house prices. It also causes some of the most damaging outcomes of poverty, including a lot of crime, social isolation and mental issues. If we built enough homes so everyone could be assured one this whole frightening aspect of poverty would go away, and I believe with it a lot of the harm cause.

 

[Zardnaar]

I have not watch the video, but it seems to me that there is a good argument that if one solves the housing crisis then you solve a lot of societies problems.

Most crime and other interpersonal harm is driven by unmet need. Historically, and perhaps still globally, the prime unmet need has been calorie intake. However, in the west at least, we have largely solved this. I am not playing down the impact of food insecurity, but Marasmic kwashiorkor is not a major cause of mortality in the young of the west. What is still a major cause of lost QALY is lack of adequate housing. This is intensionsal, so as to maintain house prices. It also causes some of the most damaging outcomes of poverty, including a lot of crime, social isolation and mental issues. If we built enough homes so everyone could be assured one this whole frightening aspect of poverty would go away, and I believe with it a lot of the harm cause.

The video essentially vsays political extremism, lack of kids due to lack of security, and all sorts of other problems tie back to housing.

Bit simplistic in parts eg NZ advice build more houses although prices here are dropping now.

 

[Samson]

The video essentially vsays political extremism, lack of kids due to lack of security, and all sorts of other problems tie back to housing.

I suspect I would not agree with all the premises in the video then. I do not look at the world and say "What we really need is more kids".

 

[Zardnaar]

I suspect I would not agree with all the premises in the video then. I do not look at the world and say "What we really need is more kids".

In a lot of parts the replacement rate is below 2.1.

And a lot of progressive policies require taxppayers eg pensions and free healthcare.

USA and NZ maybe Aussie not to bad die to immigration but alot of places gonna have issues. Older generations have the assets younger generations have to pay them.

 

[Gorbles]

Older generations have the assets younger generations have to pay them.

This is possibly one of the dumbest takes I've ever seen on "progressive policies". Taxpayer spending is not limited to the incredibly-small slice of the pie that is usually reserved for "progressive policies".

Nevermind the icky focus on "replacement rate". Buddy, try actually rehoming orphans. If your argument is "that costs money", I have some brilliant news for you on what having kids does (spoiler: it costs money).

 

[Zardnaar]

This is possibly one of the dumbest takes I've ever seen on "progressive policies". Taxpayer spending is not limited to the incredibly-small slice of the pie that is usually reserved for "progressive policies".

Nevermind the icky focus on "replacement rate". Buddy, try actually rehoming orphans. If your argument is "that costs money", I have some brilliant news for you on what having kids does (spoiler: it costs money).

I'm talking nation state level not individual.

Alot of nations have very bad demographics with aging populations.

Alot of Europe, China and Japan are in that boat.

Here one if the right winger party leaders wants to increase the age of retirement. Can't put tax up or means test the good people own million dollar properties!!

Basically the youth have been priced out if the property market, probably won't get the same pension as the boomers at the same age.

Healthcare and pensions tax up the majority of government spending.

 

[Gorbles]

I'm talking nation state level not individual.

Alot of nations have very bad demographics with aging populations.

Alot of Europe, China and Japan are in that boat.

Here one if the right winger party leaders wants to increase the age of retirement. Can't put tax up or means test the good people own million dollar properties!!

Basically the youth have been priced out if the property market, probably won't get the same pension as the boomers at the same age.

Younger generations absolutely have been priced out of the property market, but the whole taxpayer thing affects the entire (national) budget, right? Not just whatever people are calling progressive policies at the moment. So when a country reduces certain things, but keeps defense spending at exactly the same amount (or more), you have this problem where there's less tax revenue to spend, and the breakdown of the spending gets increasingly lopsided.

It doesn't have to be about progressive policies. But, progressive policies would have an upfront cost that actually translates into better propositions for young folks currently. A better social security net (for example) lifts everyone up, makes everybody more able to fulfill their potential (which in this material world where jobs are required, means more paying of taxes). The same goes for any policy (progressive or otherwise) aimed at helping people onto the property ladder (or similar).

 

[Zardnaar]

Younger generations absolutely have been priced out of the property market, but the whole taxpayer thing affects the entire (national) budget, right? Not just whatever people are calling progressive policies at the moment. So when a country reduces certain things, but keeps defense spending at exactly the same amount (or more), you have this problem where there's less tax revenue to spend, and the breakdown of the spending gets increasingly lopsided.

It doesn't have to be about progressive policies. But, progressive policies would have an upfront cost that actually translates into better propositions for young folks currently. A better social security net (for example) lifts everyone up, makes everybody more able to fulfill their potential (which in this material world where jobs are required, means more paying of taxes). The same goes for any policy (progressive or otherwise) aimed at helping people onto the property ladder (or similar).

I'm not opposed to any of that he'll would advocate for it.

It's a double or triple whammy though the older generations have the wealth and there's more of them.

Here most of the youth vote labour/greens young females it's something like 90%.

But boomers.

That's what the videos saying some people want kids can't afford them/lack security.

Personally I think throwing money at various problems causes more problems but if that money was spent on social housing with priority for families it's more effective than increasing welfare or free student loans etc.

Here I think we should just build a new city to avoid NIMBYSM make it medium density, put an army base, university, teachers college, trade school med school and make health and teaching qualifications free at that location with very cheap rent paid for via tax increase. And throw a hospital there and an airport.

 

[warpus]

Canadian problems:

- Real Estate is a much too large % of our GDP here in Canada
- Too much real estate is being bought by investors looking to make a buck
- Too many links between our politicians and the people investing in real estate
- Not enough affordable housing being built
- Our cities are designed wrong and we do not generally allow much in between the skycraper and the single family home. Montreal is doing something right here with a more European approach to zoning, but everybody else has their heads in the sand
- Too many Canadians still want to live in a suburban paradise, and these unsustainable subdivisions are continually being built, leading to more and more sprawl, which we pay for later in many ways
- We don't do nearly enough to verify the income of the people buying our homes. A lot of investors use middleman shell companies to accomplish this.. and we do nothing.
- Our politicians likely have a significant % of their investments in real estate as well. Why would they push to lower prices? It's not in their interests, nor in the interests of their friends.
- Public transit is horrible in this country
- Rail transit is horrible in this country
- The vast majority of the half a million of new immigrants we take in every year want to live in trendy cities like Toronto. Toronto can't even handle all the people living there now..
- Nobody in power really wants any of the status quo to change
- This is all leading to a bigger and bigger gulf in socioeconomic inequality, helping create a new generation of Canadian idiots who embrace far-right extremist groups as a way to fight the injustice (which helps nobody)
- Real estate agents have a monopoly on the market. It needs to be opened up so that your average Canadian can get all the information without having to jump through hoops.
- We need to invest a lot more in public transit infrastructure, affordable housing infrastructure, and much more.

 

[Hygro]

I have not watch the video, but it seems to me that there is a good argument that if one solves the housing crisis then you solve a lot of societies problems.

I haven’t watched it either, but I did read an article on Nickleback.

 

[Zardnaar]

Canadian problems:

- Real Estate is a much too large % of our GDP here in Canada
- Too much real estate is being bought by investors looking to make a buck
- Too many links between our politicians and the people investing in real estate
- Not enough affordable housing being built
- Our cities are designed wrong and we do not generally allow much in between the skycraper and the single family home. Montreal is doing something right here with a more European approach to zoning, but everybody else has their heads in the sand
- Too many Canadians still want to live in a suburban paradise, and these unsustainable subdivisions are continually being built, leading to more and more sprawl, which we pay for later in many ways
- We don't do nearly enough to verify the income of the people buying our homes. A lot of investors use middleman shell companies to accomplish this.. and we do nothing.
- Our politicians likely have a significant % of their investments in real estate as well. Why would they push to lower prices? It's not in their interests, nor in the interests of their friends.
- Public transit is horrible in this country
- Rail transit is horrible in this country
- The vast majority of the half a million of new immigrants we take in every year want to live in trendy cities like Toronto. Toronto can't even handle all the people living there now..
- Nobody in power really wants any of the status quo to change
- This is all leading to a bigger and bigger gulf in socioeconomic inequality, helping create a new generation of Canadian idiots who embrace far-right extremist groups as a way to fight the injustice (which helps nobody)
- Real estate agents have a monopoly on the market. It needs to be opened up so that your average Canadian can get all the information without having to jump through hoops.
- We need to invest a lot more in public transit infrastructure, affordable housing infrastructure, and much more.

Think Canada us similar to NZ might actually be worse idk.

Replace Toronto and Vancouver with Auckland and Wellington.

 

[Tee Kay]

I know the video you're talking about. I don't know why an article on Nickleback was linked in the OP though.

 

[Birdjaguar]

I'm talking nation state level not individual.

Alot of nations have very bad demographics with aging populations.

Alot of Europe, China and Japan are in that boat.

Here one if the right winger party leaders wants to increase the age of retirement. Can't put tax up or means test the good people own million dollar properties!!

Basically the youth have been priced out if the property market, probably won't get the same pension as the boomers at the same age.

Healthcare and pensions tax up the majority of government spending.

Yup, world demographics are changing in ways that will encourage immigration. National purity is dying as it should. Countries that resist will see ever shrinking workforces. Automation is not likely to solve the problem.

Pensions have been long gone in the US unless you work for the government. Boomers get Social Security payments based on previous contributions they paid. Currently, the max monthly payment one can get is $4194 if you retire at 70 and have paid into the system at the highest levels over a decade. The average monthly SS payment in 2021 was $1563. Taking SS early, at 62 or even at 66, costs one dearly in payments.

Example: If one were to receive $1000 per month SS payment upon retirement at age 66 and you elected to retire at 62, your payment would be $708 (permanently). If you waited until 70 to retire, your permanent payment would be $1253. That is $545 difference each month, forever.

Medicare and Medicaid cost the government huge amounts. I'm on Medicare and it is a good program; not free and it requires additional insurance to get good coverage. Basic Medicare costs me about $140 per month.

While owning a home is important to building some kind of nest egg for retirement, it is not "the solution" retirement problems. Downsizing you home upon retirement still requires having a place to live. A $400,000 home needs to be replaced so the net cash delivered is not the value of the home.

Big public housing projects have a long history in the US going back to the 1950s and 60s. There were many huge failures for lots of reasons. One of the lessons learned is that you cannot just give people a place to live and then walk away. Buildings have to be maintained, jobs must be available, transportation must be available. Poverty and poor education must be dealt with or hard core crime will fester. Building more homes is only the start of the costs.

https://newsone.com/1555245/most-infamous-public-housing-projects/

 

[Hygro]

I know the video you're talking about. I don't know why an article on Nickleback was linked in the OP though.

Zardnaar still doesn’t know

 

[Zardnaar]

I know the video you're talking about. I don't know why an article on Nickleback was linked in the OP though.

Some idiot on the keyboard/phone. I blame the French.