Current Events > This is messed up. Now wonder China is passing us.

(+) Yeah! (+)

https://www.reddit.com/r/news/comments/ovgp3c/minimum_wage_earners_cant_afford_a_twobedroom/

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Capitalism

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And more and more houses are being snatched up by people with disposable income so they can bleed the less fortunate dry.

Soon "Living beyond your means" will mean having a roof above your head at all.

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Umbreon posted...

And more and more houses are being snatched up by people with disposable income so they can bleed the less fortunate dry.

Soon "Living beyond your means" will mean having a roof above your head at all.

Yep they'll be a landlord or even worse, an AirBNB so no one is living there it's just a house that bends law to become a hotel

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capitalism working as intended?

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https://www.cnn.com/2021/08/01/politics/eviction-moratorium-democrats-biden/index.html

I watched the 8 minute video that is currently the top headline at CNN.

Just heartbreaking. :(

Not much better here in the UK.

I'm so glad that I got onto the property ladder when I did. The much smaller place that we used to rent now costs 1.5x as much per month in rent as our mortgage does.

It's literally the difference between being financially stable or struggling for a lot of people.

Clearly they just need to work a 5th job and stop being so lazy.
/s

Yeah, it sucks and I even have relatives getting the boot or had to move because rent shot up. Then on the other hand I have relatives that are landlords in the same area. So it's coo.

pick4six posted...

Now wonder China is passing us.

You think Chinese minimum wage can afford a 2 bed room in their popular cities? Not even tankies can be this delusional.

And those in power will do nothing about this. Neither Republicans or Democrats. Repubs get hard off of this shit and say so and Democrats only pretend to care. I'm sure it's similar in other countries.

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Shadilay posted...

You think Chinese minimum wage can afford a 2 bed room in their popular cities? Not even tankies can be this delusional.

China probably has affordable living, even if their pay structure is different than ours.

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Got my two bedroom 80m2 apartment for 400k 2.5 years ago now it's worth 550k.

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Rent is ridiculous. Every year they raise the rent by like $50. In 10 years that's $500 increase...sometimes they raise by more too.

I seen a meme that went like this:

Hi i would like to purchase a house and need a loan. If you give me the loan i can pay a $900 mortgage no problem.
Bank: can you prove to us you can afford a loan of this size?
Well i have been paying $1400 in rent for over 10 years.
Bank: that is not a suitable answer, we need to know whether you can pay a mortgage of $900 a month. Paying $1400 a month for the last 10 years is not acceptable proof.

Stupid as heck man. Its the same thing with the stupid job market. "Why do you want to work here" "because i need fucking money to survive dipshit" "yes, but what makes you a suitable candidate" "hows about the fact that if i cannot perform well at this job and make money i will be out in the streets ya dumbass"

Stupidest shit ever. Another stupid thing is how now you have to apply online for any corporate job. Paper applications were so much easier than online applications where you have to create an account with a username and password with a bunch of restrictions. Fucking awful.

pick4six posted...

Yep they'll be a landlord or even worse, an AirBNB so no one is living there it's just a house that bends law to become a hotel

AirBNB really should be shutdown.

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You ever see rural China TC?

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TrollTrace posted...

Rent is ridiculous. Every year they raise the rent by like $50. In 10 years that's $500 increase...sometimes they raise by more too.

I seen a meme that went like this:

Hi i would like to purchase a house and need a loan. If you give me the loan i can pay a $900 mortgage no problem.
Bank: can you prove to us you can afford a loan of this size?
Well i have been paying $1400 in rent for over 10 years.
Bank: that is not a suitable answer, we need to know whether you can pay a mortgage of $900 a month. Paying $1400 a month for the last 10 years is not acceptable proof.

Stupid as heck man. Its the same thing with the stupid job market. "Why do you want to work here" "because i need fucking money to survive dipshit" "yes, but what makes you a suitable candidate" "hows about the fact that if i cannot perform well at this job and make money i will be out in the streets ya dumbass"

Stupidest shit ever. Another stupid thing is how now you have to apply online for any corporate job. Paper applications were so much easier than online applications where you have to create an account with a username and password with a bunch of restrictions. Fucking awful.

Another problem is immigration, Trump hate scared people from wanting to come to America, now we lack infrastructure construction and innovation. America is in that state like in Rome when Rome started to rot an crumble


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pick4six posted...

China probably has affordable living, even if their pay structure is different than ours.

Wow, you really don't know huh? Lmao

The reason we lack the folks who build our infrastructure is because for like 3 generations the academic system has been pushing college instead of promoting both college and trades. Its not trumps fault that everyone before him since like the 80s has been doing a shitty job, and whenever a president tries to do a good job like jfk who tried to put us back on the gold standard, they get fucking murdered...so basically we have to keep electing politicians who do not reflect the interestsof everyday people.

Like, we all know that the salaries of CEOs and other administrators and executives needs to be reduced and redistributed amongst the lower entry level jobs to stimulate the economy. We know that the rich do not pay their fair share in taxes, so we have to go after them as well. Hoarding wealth should be a crime, that money needs to be reinvested in america and not sitting in a bank account.

I guess minimum wage workers who want 2 bedroom apartments should move to China

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Steelix500 posted...

Wow, you really don't know huh? Lmao

I can't remember where I watched it, but pretty sure they have those apartments built inside former apartments and then also have the ones that are basically coffins/cages. You get a mattress in a coffin like box and that's your home.

The story is important but TC really fucked up on the title.

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mattymad posted...

Yes, I'm skipping the fact a home owner has a lot more expectations when it comes to repairs and upkeep but still.

Even this isn't always the case. We own our home but because of when it was built if anything goes wrong for the next 6 and halfish years, it gets fixed for free.

People need to just manage money better. One person doesn't need two beds.

Hell bed are super expensive! Slow down

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Purple_Cheetah posted...

Clearly they just need to work a 5th job and stop being so lazy.
/s

Those with enough money would probably say that without the sarcasm. As if it were natural and healthy for a person to work 100 hours a week just to have a roof over their head...

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Unsugarized_Foo posted...

People need to just manage money better. One person doesn't need two beds.

Hell bed are super expensive! Slow down

"I didn't read the article!"

The article's point is that even living within your means, the means aren't enough for a minimum wage worker to pay for a 2B apartment anywhere.

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Minimum wage hasnt been used as a living wage since the 1950stheres no need for it. Learn a trade and get a better job.

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Godnorgosh posted...

People who still say shit like this unironically in 2021 as if there's a conveniently located and better-paying trade job for every low-wage retail and restaurant worker

There are literally millions more jobs in those industries than vacancies in trades in the US, not even taking into account the massive population of the unemployed and homeless

There really are, but no one is actually working to get those jobs. Theyd rather just cry woe is me and continue to live in minimum wage hell. Its a choice they actively make. So Ill say it again learn a trade and get a better job.

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America needs to get rid of it's zoning laws and make more affordable housing and multi-family units.

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TrollTrace posted...

Stupid as heck man. Its the same thing with the stupid job market. "Why do you want to work here" "because i need fucking money to survive dipshit" "yes, but what makes you a suitable candidate" "hows about the fact that if i cannot perform well at this job and make money i will be out in the streets ya dumbass"

You honestly think those very basic questions are unreasonable for an employer to ask? I could understand if you applied to be a jizz mopper and they asked "why would you want to do this this job?"

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AsucaHayashi posted...

capitalism working as intended?

It's a broken fucking system and needs to go.

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Rent is hella screwed up. I pay a ton less for a 2500 square foot house than they charge for like a 1200 square foot two bedroom apartment.

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NinjaWarrior455 posted...

America needs to get rid of it's zoning laws and make more affordable housing and multi-family units.

This.

Shit.

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Don't worry liberals have a plan for this you can live in a repurposed cargo container if you have enough money to afford the luxury if not you can get you very own pod with a privacy curtain in a communal living warehouse. You can enjoy both these luxuries while snacking on your favorite bug based food. Who even needs or wants a house these days in the future you will own nothing and be happy after all.

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Quicksilver posted...

Don't worry liberals have a plan for this you can live in a repurposed cargo container if you have enough money to afford the luxury if not you can get you very own pod with a privacy curtain in a communal living warehouse. You can enjoy both these luxuries while snacking on your favorite bug based food. Who even needs or wants a house these days in the future you will own nothing and be happy after all.

This is definitely a post that a ? Block would make.
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Reminder that the media parrots these "studies" based on the conclusion without questioning the methodology, knowing their readers won't either and negativity = engagement.

This report looked at minimum wage earners but median-priced housing so they could get the statistic they were looking for. To get an accurate view of housing affordability you'd have to compare median incomes to median-priced housing or the cheapest housing to minimum wages. You might as well say minimum wage earners can't afford a 2021 model car... of course not. That's not what they're buying!

This doesn't mean housing affordability isn't an issue in the US, but blaming wages for this shows how little people understand the issue. We had massive income growth over the last decade and yet housing became less affordable... it's almost like wages don't solve a supply problem

Somehow I thought this was gonna be about the Olympics lol

A related fact, for American medal winners, they do have to pay taxes for those precious metal awards. Don't know if other countries do the same, pretty shitty regardless.


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pick4six posted...

No wonder China is passing us.

true dat playa 70% of Chinese millennials are homeowners

https://www.bbc.com/news/world-39512599

https://www.insider.com/meet-the-typical-chinese-millennial-income-housing-ambitions-2021-7

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Shablagoo posted...

true dat playa 70% of Chinese millennials are homeowners

https://www.bbc.com/news/world-39512599

https://www.insider.com/meet-the-typical-chinese-millennial-income-housing-ambitions-2021-7

For someone who slurps so much, you should probably learn more about policies in China. It is absolutely great that so many millennials own their own home, but it is through the assistance of family: https://www.forbes.com/sites/wadeshepard/2016/03/30/how-people-in-china-afford-their-outrageously-expensive-homes/?sh=76511259a3ce

Many parents outright buy property for their children at a young age as a future investment and many are afforded that opportunity due to things like the one-child policy.

Don't feed the wumao.

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Just read this tweet today

https://twitter.com/insiderasia/status/1421836284855787520?s=21

China doesnt have crazy ass home prices

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Another thing China is good at?

Construction. For every elevator America builds China builds 100. China builds tall buildings in different countries just to own the bonds on the construction companies money (creating jobs)

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pistachio12 posted...

For someone who slurps so much, you should probably learn more about policies in China. It is absolutely great that so many millennials own their own home, but it is through the assistance of family: https://www.forbes.com/sites/wadeshepard/2016/03/30/how-people-in-china-afford-their-outrageously-expensive-homes/?sh=76511259a3ce

Many parents outright buy property for their children at a young age as a future investment and many are afforded that opportunity due to things like the one-child policy.

Its good that China accomplished that....BUT the west couldnt do it so it must actually be bad!

same response every time lol

ColdRainAndSnow posted...

Another thing China is good at?

Construction.

Its mind-boggling seeing how much some of the cities have been built up in even just the last few decades, how much infrastructure has been developed across the country.

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So op thinks we're paying workers too much and should lower wages more so we can not be "passed" by China?

That's one way to let everyone know you're a terrible human.

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ColdRainAndSnow posted...

Another thing China is good at?

Construction. For every elevator America builds China builds 100. China builds tall buildings in different countries just to own the bonds on the construction companies money (creating jobs)

Their construction is notoriously bad. They recently had a skyscraper in Shenzen sway inexplicably.

https://www.youtube.com/watch?v=tvsS9eXB04M

And Hook Line and Sinker Belt and Road is a debt trap for developing countries.


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