6 ms·
Wages may be rising nominally, but now I'm fighting against hyperinflation of housing costs in ~10 metro areas. It's not so bad if your house is going up in va
by drewmate 4y ago
Wages may be rising nominally, but now I'm fighting against hyperinflation of housing costs in ~10 metro areas. It's not so bad if your house is going up in value so you always have a down payment ready, but it's made it very challenging to buy a first home when the cost of a down payment is rising by the better part of an annual salary every year.
I don't know that it's any better in the counties with shrinking population. The shrinking population reduces demand for all the services they might have been able to perform at a higher wage. And housing prices still seem to be rising. Again, not a big deal if you already own a home, but I think it locks out a good portion of a whole generation from home ownership.