Same thing happened in the U.S. Boomers were the only generation whose majority voted for Trump. The political systems of the two great English speaking powers has been locked up for 3 years because of Boomers.
- SuperJail Warden
- Gone Forever
- +648|4024
- SuperJail Warden
- Gone Forever
- +648|4024
My town did a property tax revaluation. Last one was in 1990. My parents bought a home in 2000 for $150,000 that had an assessed value in 1990 of $115,000. The new evaluation put the house at $440,000.
The value quadrupled in 30 years. The average income of Americans hasn't quadrupled in the last 30 years. Even when adjusted for inflation the house is twice as expensive.
That doesn't seem right. Who would actually even be willing to pay that much for a house?
The value quadrupled in 30 years. The average income of Americans hasn't quadrupled in the last 30 years. Even when adjusted for inflation the house is twice as expensive.
That doesn't seem right. Who would actually even be willing to pay that much for a house?
rent-seekers.
the same thing happened in the UK, particularly in the south-east. people who were only modestly lower-middle and who bought houses within about 50 miles of london are now quickly becoming millionaires just by virtue of staying in the place. it doesn't really make any sense.
it was the same generation as people like dilbert, who were at university in the 80s. free higher-education and a dole/unemployment system that meant you could basically spend your 20s pursuing your hobby, living in houseshares (or even squatting) in central london, and simply getting on the housing ladder in some 'gritty' area like hackney if those dreams didn't work out. fast forward to the 2010's and now they're accidental millionaires. lol fat chance of any of that now.
meanwhile we've had a lost decade in terms of real earnings growth, or rather the total lack of it.
it was the same generation as people like dilbert, who were at university in the 80s. free higher-education and a dole/unemployment system that meant you could basically spend your 20s pursuing your hobby, living in houseshares (or even squatting) in central london, and simply getting on the housing ladder in some 'gritty' area like hackney if those dreams didn't work out. fast forward to the 2010's and now they're accidental millionaires. lol fat chance of any of that now.
meanwhile we've had a lost decade in terms of real earnings growth, or rather the total lack of it.
Last edited by uziq (2020-02-14 12:49:09)
Because it's too easy to take out a mortgage and rack up debt and because land in a desirable location is the one thing that can't be created.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
- SuperJail Warden
- Gone Forever
- +648|4024
But my city is a shit hole. We both know this.Jay wrote:
land in a desirable location is the one thing that can't be created.
Yes, but it's close to Manhattan. Look at Jersey City prices. Basically nothing under $1mSuperJail Warden wrote:
But my city is a shit hole. We both know this.Jay wrote:
land in a desirable location is the one thing that can't be created.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
- SuperJail Warden
- Gone Forever
- +648|4024
What are your property taxes by the way? This isn't a troll trap. My taxes just got raised to $11,000 a year from $9900 as a result of the reval.Jay wrote:
Yes, but it's close to Manhattan. Look at Jersey City prices. Basically nothing under $1mSuperJail Warden wrote:
But my city is a shit hole. We both know this.Jay wrote:
land in a desirable location is the one thing that can't be created.
$15,698.96
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
- SuperJail Warden
- Gone Forever
- +648|4024
Jesus Christ. Congrats on your expensive house though.
Yay me. 1.5 hour (each way) commute, high taxes and a subpar school district.
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat
- SuperJail Warden
- Gone Forever
- +648|4024
Now that you mentioned the school district I was going to say you pay enough taxes to put an illegal immigrant through 2 years at CUNY but I remembered I promised no troll trap. So I won't make that joke.
We have relatively little crime and the highest paid cops in the country... among other taxation issues...
"Ah, you miserable creatures! You who think that you are so great! You who judge humanity to be so small! You who wish to reform everything! Why don't you reform yourselves? That task would be sufficient enough."
-Frederick Bastiat
-Frederick Bastiat