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Reply #143: If you are out of work or work for minimum wage, you can't afford any housing, low-income or not. [View All]

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AdHocSolver Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Apr-04-08 06:12 PM
Response to Reply #123
143. If you are out of work or work for minimum wage, you can't afford any housing, low-income or not.
About twenty years ago, I was discussing housing prices with a neighbor. I mentioned that I was looking at houses in a nearby upscale middle class suburb that were selling back then for $150,000 to $200,000, which was more than we could afford.

I pointed out that the houses were not that large and the lots were rather small. I wondered why they cost so much money. He told me that those houses were built in the 1960's as an affordable middle class housing development. His father bought a brand new house in that suburb in the mid-1960's for $24,000.

The same house in 1989, then about 25 years older, cost 6 to 8 times more money. Today, the cost of the same housing is somewhat higher than it was twenty years ago.

Low-income housing is a meaningless term. Housing prices fluctuate with inflation. You could make a case for there being a lack of affordable housing. However, then you get into a discussion of inflation, interest rates, wages, and family-supporting jobs, which gets us right back to the ROOT cause of the problem, namely the exporting of jobs overseas.

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