On 26 Oct 2014
Permanent Damage to US Economy,
Bellingham Bill said:
The main damage is the amount of money being extracted from us in the health and housing sectors:
Real per-capita (age 16+) health + housing expenditures. This doesn't count government spending in health care I believe, which is half of total spending at any rate.
This chart implies it takes $30,000/yr for a couple to just cover the first two basics of life.
Food, clothing, and fun are additional, as are the student loan repayments.
Housing was CHEAP in the 1960s. Even the SAME houses from then are unaffordable for most people now, because it's the land valuations that have skyrocketed since then.
Nobody gets this.
This house sold for $35,000 or so back in 1975. The 2014 sales price is nearly 3X what $35,000 has inflated to since 1975 (~$150,000)
Ironically the buyer in 1975 was an area doctor who picked this place up as an income property after the original owner passed.