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Quality of Life is Deteriorating

phattonez

phattonez

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In a growing economy, we expect quality of life to be increasing. One of the easiest ways to determine that is to see how far most incomes go. Most incomes can easily be measured by looking at median income, and how far the paycheck goes can be determined by looking at housing prices, since this is by far the biggest expense for most workers. So what happens when we look at median incomes divided by home prices?

fredgraph.png


Things aren't looking so great. We're coming off of an all time low. Now there's one other factor that I didn't take into account. The percentage of working age men actually working is also near all time lows.

fredgraph.png


So what happens when you combine the two? Well, look at the social indicators to see that life isn't so great as politicians have been telling us for years now. In fact, things are pretty awful.

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We cannot have a serious discussion of economics if we cannot confront the reality of the economic situation.
 
This amazing observation may be due to an ever increasing population competing for a finite resource - residential real estate.

The income to housing cost problem is not unique to, or especially bad in, the US as the following link confirms.

Property Prices Index by Country 2019
 
Rexedgar said:
Tune in this evening, it’s all good!

View attachment 67256904
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The worst part is that as a candidate he spoke to these issues. He knew the unemployment numbers were bogus. He knew Americans were struggling. And now? Everything is awesome! It's like the whole campaign was nothing but a tease.
 
ttwtt78640 said:
This amazing observation may be due to an ever increasing population competing for a finite resource - residential real estate.

The income to housing cost problem is not unique to, or especially bad in, the US as the following link confirms.

Property Prices Index by Country 2019
Click to expand...
Germany, France, and Japan are all far more crowded than the US, yet all cheaper. Clearly density isn't the main factor here.
14b6f2ff7b489c8fc5e2a191a5e10e8d.jpg
 
Is this another aspect of the income growth inequality we've been dealing with for 50 years now?
 
The Mark said:
Is this another aspect of the income growth inequality we've been dealing with for 50 years now?
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Yes. All of the gains of the past 50 years have gone to the top.
 
phattonez said:
Germany, France, and Japan are all far more crowded than the US, yet all cheaper. Clearly density isn't the main factor here.
14b6f2ff7b489c8fc5e2a191a5e10e8d.jpg
Click to expand...

Does your spiffy graph does not housing show housing cost relative to income, it shows housing cost growth (from 2015).
 
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phattonez said:
Germany, France, and Japan are all far more crowded than the US, yet all cheaper. Clearly density isn't the main factor here.
14b6f2ff7b489c8fc5e2a191a5e10e8d.jpg
Click to expand...

Hmm... the US popualtion is increasing while Japan's popualtion is decreasing. Might that explain the amazing fact that they have a lower rate of housing cost increase?
 
phattonez said:
He knew the unemployment numbers were bogus.
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The unemployment numbers were not bogus, the problem is simply that they're only part of the issue. However, they are the first issue. When you're coming back of a massive recession getting unemployment down is step 1.

phattonez said:
He knew Americans were struggling. And now? Everything is awesome! It's like the whole campaign was nothing but a tease.
Click to expand...
So does this mean you're admitting to being the fool that every liberal in the country said you were before the election? Nothing in your OP is news to the Democratic party. We've been trying to explain to you that the Republican Party is the primary cause of this exact problem for decades to no avail.

So welcome to the party, it's a little late, but you're welcome to join us anyway.
 
ttwtt78640 said:
Does your spiffy graph does not housing show housing cost relative to income, it shows housing cost growth (from 2015).
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Nice catch, but my point is still correct. Here is a list showing home prices to income.

I've also included a link to median wealth levels by country. We're behind Ireland, Italy, and South Korea.
List of countries by wealth per adult - Wikipedia

Note that even this high level is due to home ownership among older people. As that generation dies off and reverse mortgages their children, this will become even lower. Remember, most of our young people have debt that they can't discharge and no equity. This isn't getting any better.
9e622c3f783a7e391d12348167111f01.jpg
 
MrWonka said:
The unemployment numbers were not bogus, the problem is simply that they're only part of the issue. However, they are the first issue. When you're coming back of a massive recession getting unemployment down is step 1.


So does this mean you're admitting to being the fool that every liberal in the country said you were before the election? Nothing in your OP is news to the Democratic party. We've been trying to explain to you that the Republican Party is the primary cause of this exact problem for decades to no avail.

So welcome to the party, it's a little late, but you're welcome to join us anyway.
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Lol, was my alternative to vote for Hillary?

And if you could find me any candidate who spoke to the same economic issues while being against immigration and pro life, I'm all ears.
 
Does anyone else see an issue with this? Median wealth among our young people is basically 0 even with so many delaying starting families!
c209bbd9946223d8d98a82e7f209173d.jpg
 
phattonez said:
Lol, was my alternative to vote for Hillary?
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Yes, you could have made a smart choice. You don't get to bitch and moan about these problems when every Democrat was more than welcome to solve them for you and you turned them down.

phattonez said:
And if you could find me any candidate who spoke to the same economic issues while being against immigration and pro life, I'm all ears.
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Case in point. You are your own problem. You're so racist and brimming over with religious idiocy that you vote against your own economic best interests.

Guess what buddy. Immigration is good for our economy, and it's good for you too. God isn't real, a fetus isn't a life, and it has no right to invade a woman's body, and you have no right to force her to give birth against her will.

You are the problem. When you're willing to admit that to yourself and apologize for your foolish 2016 vote then you can come to be complaining about income inequality.
 
MrWonka said:
Yes, you could have made a smart choice. You don't get to bitch and moan about these problems when every Democrat was more than welcome to solve them for you and you turned them down.



Case in point. You are your own problem. You're so racist and brimming over with religious idiocy that you vote against your own economic best interests.

Guess what buddy. Immigration is good for our economy, and it's good for you too. God isn't real, a fetus isn't a life, and it has no right to invade a woman's body, and you have no right to force her to give birth against her will.

You are the problem. When you're willing to admit that to yourself and apologize for your foolish 2016 vote then you can come to be complaining about income inequality.
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I'm not selling out my countrymen and unborn babies for mammon.
 
phattonez said:
I'm not selling out my countrymen and unborn babies
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Well then I have good news for you. You're not actually selling out your countrymen or unborn babies. You see immigration is good for you countrymen. Even the ones who are too stupid to realize it. Unborn babies aren't actually babies. They're just embryos that have no right to invade another person's body against their will.

Your god does not exist. Jesus is nothing more than Santa Claus for adults. Just like your parents used to convince you to be good so Santa would bring you presents evil rich men use religion to manipulate you into voting to give them more power and more wealth while average Americans suffer.

Your own ignorance is the single biggest problem facing the United States of America. If you want to fix any of the problems you referenced in your OP the first thing you must fix is yourself. You're like an alcoholic with a serious problem desperately trying to convince yourself that problem is something other than the Alcohol you love so much.
 
phattonez said:
Does anyone else see an issue with this? Median wealth among our young people is basically 0 even with so many delaying starting families!
Click to expand...

Of course, but the cause of that problem is that you vote very foolishly. Your ignorance is the cause of this problem.
 
phattonez said:
Nice catch, but my point is still correct. Here is a list showing home prices to income.

I've also included a link to median wealth levels by country. We're behind Ireland, Italy, and South Korea.
List of countries by wealth per adult - Wikipedia

Note that even this high level is due to home ownership among older people. As that generation dies off and reverse mortgages their children, this will become even lower. Remember, most of our young people have debt that they can't discharge and no equity. This isn't getting any better.
9e622c3f783a7e391d12348167111f01.jpg
Click to expand...

Again, you ignore the facts placed right in front of your eyes. South Korea is experiencing a slowing or negative populaltion growth rate.

Since the 2000s, South Korea has been struggling with a low birthrate, leading some researchers to suggest that if current population trends hold, the country's population will shrink to approximately 38 million population towards the end of the 21st century. In 2018, fertility in South Korea became again a topic of international debate after only 26,500 babies were born in October and an estimated of 325,000 babies in the year, causing the country to have the lowest birth rate in the world.
Click to expand...

Demographics of South Korea - Wikipedia

EDIT: Since 2015 it would appear that Germany has lost nearly 2M people.

Population
80,457,737 (July 2018 est.)
80,594,017 (July 2017 est.)
82,175,700 (2015 estimate)
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Demographics of Germany - Wikipedia
 
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phattonez said:
In a growing economy, we expect quality of life to be increasing. One of the easiest ways to determine that is to see how far most incomes go. Most incomes can easily be measured by looking at median income, and how far the paycheck goes can be determined by looking at housing prices, since this is by far the biggest expense for most workers. So what happens when we look at median incomes divided by home prices?

fredgraph.png


Things aren't looking so great. We're coming off of an all time low. Now there's one other factor that I didn't take into account. The percentage of working age men actually working is also near all time lows.

fredgraph.png


So what happens when you combine the two? Well, look at the social indicators to see that life isn't so great as politicians have been telling us for years now. In fact, things are pretty awful.

9c36bbba36c3387db811808712836c54.png


RCI070318_2.png


RCI070318_3.png


We cannot have a serious discussion of economics if we cannot confront the reality of the economic situation.
Click to expand...

Define quality of life, please.
 
ttwtt78640 said:
Again, you ignore the facts placed right in front of your eyes. South Korea is experiencing a slowing or negative populaltion growth rate.

Demographics of South Korea - Wikipedia

EDIT: Since 2015 it would appear that Germany has lost nearly 2M people.

Demographics of Germany - Wikipedia
Click to expand...

Therefore what? They still have way higher population density than we do. Is it your contention that it's population density that determines home prices, or rate of change of population? Be clear.
 
Lovebug said:
Define quality of life, please.
Click to expand...

Lol. Let's just say quality of life isn't increasing when it's harder to afford basic necessities.
 
phattonez said:
Therefore what? They still have way higher population density than we do. Is it your contention that it's population density that determines home prices, or rate of change of population? Be clear.
Click to expand...

I thought that I was clear and consistent, It is mostly population growth since all of those added folks need someplace new to live. Another factor is the size of the property that is desired - comparing a tiny apartment to a large detached house on a half acre lot is going to affect the cost of that home.
 
ttwtt78640 said:
I thought that I was clear and consistent, It is mostly population growth since all of those added folks need someplace new to live. Another factor is the size of the property that is desired - comparing a tiny apartment to a large detached house on a half acre lot is going to affect the cost of that home.
Click to expand...

None of these countries have high property values.

Screen-Shot-2015-02-12-at-11.10.21-PM.png


So it's neither population growth nor population density that determines property prices. What is it then? It's financialization. Debt and turning available properties into rentals. See here:

sp-gov-2017-05-04-graph1.gif
 
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