LogFAQs > #907278578

Questionmarktarius posted...

Look at the average house from the 70s, or even the "glorious" 50s, compared to today.
Where a two or three bedroom / one bath house used to be the norm, as was kids sharing a room, mcMansions have been a trend for a generation or so now. Giant house means giant debt.

This is itself symptomatic of the problem, though. Those to whom gains to wages are accruing use their newfound income to purchase larger houses in the suburbs where greenfield development is cheaper. As this housing stock ages, which takes decades, the prices lower enough that the lower income groups can move. This leaves the real tail of the desperately poor behind in inner-cities which become slums as these households with the ability to move do, which sets the stage for gentrification as the property values which were once high plummet, reversing the original process of suburbanization.

Questionmarktarius posted...

Then, let's look at college. Easy student loans have done little but drive up the costs, while making a degree nigh-mandatory for any job beyond "janitor". Easy money plus mandatory degrees means 'mandatory' debt.

Well I guess but what about countries where there isn't so much student loan debt?
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