Topic: Low wages and high real estate price rent and buying prices are main problems (Read 202 times)

Free market! 
Also, their house, their keys, their decision, right? 

But the main issue with the discussion at hand is, if people can't afford them why is the price rising and who buys them?
And if some buy them to rent, who is the one paying that inflated rent?
The perception is flawed in most cases, people don't realize how much money actually is on the market and how many raelly afford this!


The irony in this is that you want cheaper stuff while getting paid more!
Who is going to do this balance for you and why?


I assume you want to say fair share there.
Remember what happened when the US handed a fair share of money to help people during Covid?
The moment everyone receives a fair share in w ages, aka 2 times their current wage the prices will go up twice, because so will the cost and nobody will be dumb enough to earn the same while selling or crating stuff while you do twice!

We tried this fair share here till 89, we ended up all dirt poor in the same frozen shoebox eating on ratios!
I will take the rat race!

It is indeed very important to remove the disparity between rich and poor and also to reform the price and wage structure so that no one feels deprived. Then we can have a true and beautiful world. But is it possible to penetrate this disparity or syndicate? I believe that if we respect our humanity low wage people will give us better services and create a decent world.

If we have a job, in my opinion, this is much better than having no income or being unemployed. Get used to living frugally from your work income and don't follow your friends' developments. This will make things difficult for you in the future. Better to set aside what you can, with savings. We can look for other solutions to earn income for us. With the rapid development of information technology, we can also find solutions for our income. From here we can look for sources of income without requiring large capital, for example by becoming an affiliate anywhere or something else. What must be changed from a young age is our own mindset or mindset, if we don't use it well from a young age it will certainly have a bad impact on your own future.

There's nothing wrong, London or New York are not for daily workers, laborers and so on, London or New York is heaven for those royal henchmen and conglomerates, they only go there to spend money for fun, It's normal that all the accommodation there is expensive, there are open places for the poor/poor, specifically created for those who are very rich.

It's useless for workers' wages to be improved, it's the same, you have a daily wage of $50, an apartment is rented for $100 a day, it's still not enough and so on, London was not created for the poor, you work a day job there, then stay outside London or New York, maybe that will work.

The benchmark for renting an apartment in London or New York is not measured by the income of workers, apartment owners there measure accommodation based on tourists, so even daily workers cannot afford to rent it.

This is why live with your means and not with your wants if you do really like or want to survive on this very hard life considering that everything is almost increasing but not our wages or salaries on which it do really sucks if you do have made out such budget but on the next year you would really be falling out short just because of those increasing prices on which this is something that turns out to be that normal case or conditions that we do have today or into this world on which it would really be that having no choice but to deal with it. If you are someone who is really just that earning from 8-5 job then it would be wise that you should really be looking for something else if we do speak about other source of income, because if you wont then you would really be struggling but of course it would really be that matter on how well you do make out such budgeting.

We are thriving for us to survive on which it would really be that understandable that results would really be varying on how well you do make yourself deal up with such condition
or situation.

Ding ding ding - we have a winner!  You are correct - physical slavery was simply replaced by economic slavery.  Playing the game by the old rules of working, saving, and retiring with a pension is gone.  Today you are locked in an endless cycle of debt slavery - student loans, credit cards, auto loans, home mortages, ...


    

Obviously that is the most important problem, because our income is the key to everything, when our income is small but our expenses are increasing day by day then the main problem will arise, then followed by the second problem, when our income is not sufficient for our daily needs. So we should never dream of owning property like a halfway house.

That's why when we're still young, don't waste it in vain, we have to think about the future, it's time for us to think about changes for ourselves, we have to be rich in thought, poor in wealth is fine but poor in thought is not, because of what what comes to us is all from good and clear thinking from ourselves.

Everything is messed up. If you don't own at least a million dollar portfolio that generates some passive income, you are still trapped in the rat-race, living paycheck to paycheck, making somebody else richer. We are back to where we started. Slavery is back in the menu. Maybe it never left us... Still though, 20 years ago, 30 years ago wage slaving wasn't that bad. At least people were able to buy a home and a damn car without having that much difficulties. Nowadays it is a nightmare. This is the survival of the smartest. People who don't plan their future accordingly when they are very young will fail miserably.

I initially believed that the case with housing was similar to the case with food, but I was wrong. When it comes to food, a lot of it goes to waste while some are suffering from malnutrition and even dying from hunger. That's a problem of fair distribution, not of production. But with housing, there often literally aren't enough houses for everyone. It depends on the country, but overall, more housing must be developed, so that there's a bigger market, and that can drive the prices down (as long as we're building affordable housing). In the meantime, there should be support programs from taxpayers' money for those who have full-time jobs but can't afford to pay the rent (because the rent + food cost more than one's salary covers).

It doesn't matter if you are working 5 days or 7 days a week. What matters is the productivity of your labor. If you are productive enough, your employer will increase your salary. The housing market has nothing to do with the low wages.
You have to blame the banking system for the high real estate prices. Mortgages artificially create demand on the real estate market, because almost everybody(with a job and a decent credit score) can get a mortgage.
If you are complaining about your low salary and high rent, just move to a smaller town and try to find a job there.
Living in a megapolis with a population of several million people and expecting the real estate prices to be low is simply dumb.
Living in a developed country like UK, USA and Canada and expecting the prices of houses/apartments to be low is also really dumb.
And I don't think that any government could solve this problem. The governments are flooded with debt. Do you expect the government to build you a cheap house?

Does the Pre-Fabricated houses or tiny houses that you mentioned are the main/primary ones? And if they are much cheaper, then why still look for an alternative, when an alternative is supposed to offer a better option if we can't find what we are looking for in the first one. A regular house is only regular, which means they can also be inexpensive. According to my observation, real estates are having a good reputation at most times when it comes to investment, so I don't think what you said is true that the demand for traditional housing will go down and again like a regular house, a traditional housing can also come as inexpensive.

Also people need to look for alternatives when it comes to housing, now there are prefabricated houses or tiny houses that are much cheaper than the alternative, so if a person cannot afford a regular house then they need to look for other ways to have their own place, and the advantage of all of this is that the more people use those alternatives, the demand for traditional housing will go down, which in return will make it cheaper as well.

A decade or two ago, it was very much possible to live a life. Now, majority of the people are simply surviving rather than actually living. At first, I used to think that things are better or slightly better in other economics of the world because over here, there are no jobs. If there are any jobs, the salaries are of mediocre levels — it's just not enough to hold up in a hyper inflation that most economies of the world find itself too. The only way we can go back is if economies get better because even if wages get raised but inflation is on the high side, most of the extra wage amount will get offset by high cost of living (food, transportations, bills, etc).

Looking for alternative earning ....?? Well it sounds good but when you work 5 - 6 days Week you have family and a lot things to do then you got no time.
That's the matrix the circle without end you don't have never enough money and never enough time.
If you want to get out of this ratrace it means you need to work with yourself a lot it takes a lot time and a lot efforts you can't have family or too much duties while you develope yourself first develope yourself into something get some education learn about crypto and other things than make family.
Once you are busy with so many things like working and providing for your family then it will be harder to develope yourself better.

Based on my personal experience, there is no point in complaining because governments wouldn't do shit for us complaining about these things nor will employers start paying higher wages just because we are not okay with what they are paying us. After all, they can find hundreds of people who are ready to replace us and take much less than how much we are getting paid because these are not the only problems out there, job crisis is a bigger issue than what we are discussing here.

Anyway, the solution to this problem isn't in complaining but in acting on what can improve our individual lives. If you think you are not getting paid enough and that's why aren't able to accommodate yourself in a good place, you should start looking for alternative earning opportunities, maybe find a better job that you can get and earn more money, do some research, but remember, leave your current position only when you see another door that is open for you, otherwise, instead of getting better accommodation, you will end up sleeping on a bench on a roadside.

One of the reasons why real estate prices went to moon because overseas investors using specially the western countries famous cities properties just as Investment objects they don't even live in there they just buy it and often they don't buy one property they buy a lot of them some rich overseas indviduals don't buy one apartment they can buy all building.

But why the people with a lot money want to buy real estate in NYC or London ? Off course the location and the business opportunity options and the well developed infrastucture and possible bussiness and vacation second home for them.

Some people have just so much money that they can buy more than builders can build.
Banks see this as opportunity to make money with mortgages together with real estate developers If profit margin low then real estate developers will move there where property prices more expensive but we need builders because we need housing so no easy fix for that problem only way to fix this could be goverment affordable housing project.

Yes you Are correct and If society have problems on the world this one is main issue.
Im sure If leaders or political parties will try to solve that problem they get a lot votes.
Also goverment should more to care about people and help them to get back to work If they not working.

But when we look at what Ever London new York holiday apartments prices or hotel prices we can see grazy prices like one night in some hotel or quite decent apartment will cost about 1000$ and that's not even expensive.

My friend working in London very expensive hotel there you pay 3000-5000$ per one night and people booking those for months sometimes even for few months and those hotels despite high prices are not empty they always fully booked.
So some people Pay like 3000x30 easy ...lol
I mean even If you are rich is that really nessecary to pay so much your money away

Everybody knows that property prices are grazy and something need to be done.

Op you emphasized so much about working hard that I didn't read about reconciling hard working with working smart. A lot of people that are poor or are unable to access or afford certain luxury in life are not that they aren't hardworking but that they fail to recognize the dynamics in the trend and wave  of the time by being smart to follow suit. They just stay conservative about working hard, in a way that doesn't pay that rapidly much to be rich.

Even should the wages be raised the increments in the cost of estates and other luxury will still inflate making the wage increase not felt or ineffective.

Take bitcoin for a crystal example by looking at the financial life of those that chose to hold bitcoin and those persons that chose to hold fiat over the years. You'll find the difference in terms of working smart from working hard.

We seem to live in this crazy upside-down universe. Working hard, you bust your ass but you can't even afford a good place to live. Shameful. This system, man, it's broken. We have lost sight of what really counts: human beings; we are so absorbed in this rat race, chasing the great dollar. We have to get woke and understand that a living pay is about dignity, not only about survival; it's about being able to have a darn life

I am not discussing handouts here. I mention a fair shake here. Something is quite wrong when a diligent person can not even afford the most basic needs. We have to begin appreciating actual labor; that which keeps this civilization running

You need somewhere to call home, a haven, not just some costly shoebox. A good mind, a good life, start from a safe home. We are destined to live in a society full of stressed-out, overworked people barely surviving if we do not start seeing housing as a fundamental human right

The price of an apartment is getting very expensive that seems very difficult for people to afford it. I asked one of the Real Estate agent the reason why houses are getting expensive, I was told it is because price of everything is increasing that is why the price of renting house is getting expensive too. If the price remains low real estate investors won't be able to meet up with maintenance of their house and also to get good profit to afford to have more properties.

I think when it comes to the rent of houses it is supposed to be approved and regulated by the governments because the price is what so many people can't even afford, I think real estate owners are trying to take advantage of people by just blaming people.

I think for housing issues and low cost houses that people can afford, the government will have to step in to build satellite towns and affordable housing scheme for people to live, because if it is left in the hands of real estate developers to build and put it out there for sale or rentage, trust me the low income earners will definitely find it extremely difficult to pay, because they are pure private investors that just wants to make gains from their investment, so they don't really care much about those that cannot afford it.
However if government comes in to build those low cost houses, you will find out that government can put it out on sale or rentage on subsidized amount for low income earners and middle income earners so they can have good living houses within their earnings.

Wages on the other side needs to be readjusted and pushed up a little to meet up with the current realities on ground so that the indigent and low income earners can be able to afford to beat up inflation from their take home pay.

Minimum wages, rental prices, etc. must be balanced. However, it is a matter of principle that people feel that owning a house or apartment is not a quick process. You must be able to manage your finances from each income to be set aside or invested. Regardless of the salary you get, it depends on the skills you have and the field in which you work. At a minimum, your lifestyle and needs must be adjusted to the income you earn, don't let your lifestyle be more than your income because you will always feel like you are lacking. Try to reduce your lifestyle and think about long-term interests, for example by investing whatever amount you can afford.

I don't know how bad the situation is in those countries where property prices are expensive due to the high taxes imposed by the government. But it does not increase workers' income. Policies that are considered unbalanced, if house rental prices are expensive, means workers' income must be adjusted. There must be updated regulations to balance property pricing and basic income.

Now what? there's nothing you can do right? you're only complaining, the same way like other people who have miserable life.

If you're not a president or someone who have a power to influence the minimum wages, all you can do is force entire population in your country to stop working and force the business to raise the minimum wages.

I'm sure both of them will not be realized because if you're the president, you will be greedy and don't want to raise the minimum wages, while the second solution, it will be impossible because there's always a person willing to get paid lower just to secure a job.

some issues arise when people want more then they can afford

take this topic. a single person wanting a house/apartment in london/new york
the problem is a single person should be looking for accommodation for a single person.. meaning not a full on house/apartment. but something with a single bedroom

when a single person is looking for a 2-3 bedroom house. they are living above expectations..
hint: houses are not usually built with a single bedroom..

most people dont buy a house until they have a partner or family, before then they have a small studio apartment or shared accomodation

The demand for people to purchase houses are in the high side now especially in the downtown of every country. But like you said, even the locals are becoming more aware and interested in the industry. But like you have mentioned, Bitcoin have come to salvage the situation as many salary earners, including civil and public servants can invest their funds into the Bitcoin in a DCA approach. Alternative to Bitcoin, is the Altcoins and Stablecoins which are other means people can invest their money. Though, if you must involve in the Altcoins, you must also learn how it operates and follow the markets consistently to avoid Shitcoins. Stablecoins are for those who do not have the time to follow market trends and still wants to invest their funds in the digital currencies.

Never mind New York and London, it is creeping into any major town in the devwloping world. The problems are deeper. Demand for real estate outstrips supply. Buyers are not local, the real locals are also at fault for selling.

Good Russian money, now sanctioned in the West, all welcome in Africa and Southeast Asia. Locals think ahort term. Instant cash for a new car or or house, sell their land and move farther inland.

It runs deeper than that, of course, landgrabbing is not new, but with prime all gone, now the middle class is rushing to meet that demand.

Can't fight that, but Bitcoin does help alleviate that issue for you personally. If you earn a salary, save as much of it in Bitcoin. At least it will keep up with inflation and real estate appreciation.

Always has been the main problem.

the thing with housing price crisis is that the wealthy people considers it as an investment that's very lucrative so they hoard property where the millenials and gen-z that are still on the way of building good career and trying to get higher wages just got faced with the skyrocketing of housing price that outweigh their salary increase.

furthermore, the only places where opportunity for getting a job is abundant is usually the bigger capital city and this centralization of housing also causes the price in these big cities to sky rocket as well just like this data below at least from canada alone for example data, the other developed countries probably face the same problem

so combine that with the low salary increase and skyrocketing price of housing, you get really wide gap between household income and housing affordability.

There's really something wrong with the system nowadays and thanks to the factors that have made real estate prices too stretched no commoner will be able to live comfortably and expect to own a house even if the job is a minimum pay. We go back to the past time, we see people live freely and life wasn't tough at all. Businessmen, employees, or workers don't have that much to think of as you can expect to own a simple house that you can own and be able to pay that by being a laborer. Real estate prices really appreciate and it has come to the point that this is too much but that's how demand and supply work. The demand is high and the supply for having a land space is limited and we expect this matter to continue until we're dead or who knows if this real estate bubble is going to pop soon.

I think it's not secret that's the main problem.
How can the person who work 5-6 days Week long days can't afford to rent alone good looking apartment or House? Don't you think something is really wrong ?
Let's take for example London or New York people work hard but still cant afford peace of mind and having their own rented house or apartment.

I think we should blame on low wages i think nowdays we live in the society where everybody has the needs to have decent place to live and having enough money for holidays and for health Care.
Btw we all are humans and deserve respect and If you work hard 5-6 days Week long days and you still can't afford to rent apartment or House yourself you still have to share it with many stranger people then it's like there is no respect and no rewards for hard working person.
Just because people see this how hopeless it's all are it will create more depresion and sadness and anger.
We don't need to fix all the problems In the world but biggest thing is that everybody whos working hard have their own House or apartment where they feel like it in home
Your home is your Foundation it's mentally hard to be productive If you don't have Even proper home.

So we Are at the point when wages cant be so low or either rental prices should go down or wages should go up

If the weakest link in the chain are strong then all the chain will be stronger
(the weakest link the hard working people in the society)
People who really wake up early and do things with every weather but they still not respected.

So housing prices should come down or wages go up.

The countries: by the current housing prices to rent the wages should be over 4000$ in canada and that's minimum or rent price for decent apartment 1000$ not more.
This is the problem and goverments need solve this issue asap.
But If emplyoers see the situation they should respect their workers and pay decent amount of wages.
But another way will be that goverment will regulate housing prices becouse lamdlords just humilate other people.