Great Depression vs NOW
🔊 …🚨🚨🚨
During the Great Depression houses were 3x the average salary. Today it's 8x
Cars were 46% of the yearly salary. Today it's 85%
Rent only took 16% of the annual salary. Today it's 42%
Some ask whether we are already in an unrecognized silent recession (or worse) that is being hidden by massaged data from the govt.
https://video.nostr.build/10133807713b6f01f7c6eb2cab72e2e89ca294bfd25e1270fb428f1f37aa6009.mp4
Younger people who are Millennials and Gen Z are very concerned about housing. They have been priced out of many areas and the path to home ownership looks uncertain.
I suspect if home ownership rates were higher for younger generations, they would not be as jaded about the country or their future.
Perhaps work from home could be a possible solution? Offering geographic flexibility (contingent on performance) could make more zip codes viable for home ownership.
At the start of one’s career going into the office is important as it increases the chances of building relationships with mentors.
Also, moving far away may weaken family ties.
The sooner #Bitcoin sucks capital out of real estate the better.
> The sooner #Bitcoin sucks capital out of real estate the better.
You mean BTC buying all valuable real estate or BTC not available for *buying* real estate?
The hope is that real estate will become demonetized in a future where Bitcoin is seen as a better way to protect long term savings.
Removing the monetary premium from real estate should reduce prices down to more reasonable historical multiples.
