Some housing stats from the latest issue of No Mercy / No Malice, which kicks off our #Project2028 series… www.profgalloway.com/project-2028... - ThreadSky

profgalloway.com • 23 hours ago

Some housing stats from the latest issue of No Mercy / No Malice, which kicks off our #Project2028 series… https://www.profgalloway.com/project-2028-housing/

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Comments

vandenhoorn.bsky.social•15 hours ago

You should really pick another name than anything with “project” in it. Maybe too soon, but in a not to far future something with “Freedom” or so will be apprpriate.

npersson.bsky.social•23 hours ago

Yes! Finally Project 2028!

anarcurt.bsky.social•23 hours ago

2008 financial crisis still screwing over the country. Killed homebuilding. Ballooned the debt. Destroyed a lot of faith in our institutions. Ultimately allowed wealth inequality to skyrocket as the well off and private equity, kept afloat by the bailouts, were able to feed on the carcass.

dailygrumbles.bsky.social•22 hours ago

What's happening here Prof?

meidasherefornews.bsky.social•23 hours ago

Do you think well have legit midterm elections, Scott? Or will we have Russian style elections?

bitbybitbybit.bsky.social•22 hours ago

I see only one way to be able to afford a house in the near future.

bowl200.bsky.social•23 hours ago

Same situation as in UK. Cause: rent seeking, social budget subsidising "private" sector, housing market controlled by housebuilders to keep land and home prices high, govt asleep at the wheel.

philmunch.bsky.social•23 hours ago

Hi Scott, what does your team use to create the graphical packages on your post? Always very clean.

queso-blanco.bsky.social•23 hours ago

ChatGPT: It shows how much ppl in different income percentiles earn/hr. compared to wages req'd to afford fair-market rent for 1-bedroom or 2-bedroom apart. It emphasizes how housing remains unaffordable for a large portion of U.S. workers w/ wages for most percentiles falling short of rental costs.

queso-blanco.bsky.social•23 hours ago

Can someone explain how to interpret the bar graph. I'm not tracking

mapchat.bsky.social•23 hours ago

So I could be off here, but I think the bars represent the deciles of income at an hourly basis...which indicates that you need to be in the 60% decile for 1 BR and 70% for a 2BR which basically shows how unaffordable housing is.

queso-blanco.bsky.social•23 hours ago

I like your explanation better than ChatGPT's

mapchat.bsky.social•23 hours ago

I'll take that as a win.

nomasnomore.bsky.social•21 hours ago

Scott i have a degree in labor economics but I live on kauai far removed from a lot of the US. How can I help? I have a very good grasp on the economy and what it takes to get wage higher for people

montanagirl.bsky.social•8 hours ago

It’s wild that Montana and Idaho join the ranks of ridiculous home prices.

msilcmd.bsky.social•16 hours ago

In my town growing up in the 80s-90s in Central NJ everyone owned their own home. Checkout ladies, 5 & Dime clerks, garbage men, landscapers, even our neighbor who just delivered fucking pizza. The only renters we knew were drug addicts and people on welfare.

msilcmd.bsky.social•16 hours ago

...the fact that median single-worker wages to median single family home cost has gone from 1:2 in 1950 to between 1:4 - 1:7 across States now is only due to disgusting greed.