Newsweek Discovers Gravity: Housing Costs 'Worse' After Decades of Neglect
The article notes housing affordability is 'considerably worse' than five years ago. (A masterclass in understatement.) What it doesn't mention is that while average wages have stagnated for decades, the median home price in the US has ballooned from $79,000 in 1980 to over $400,000 today. Congress, meanwhile, finds billions to fund overseas conflicts and subsidize corporations, but somehow
struggles to allocate funds for affordable housing initiatives. Perhaps if America's housing crisis wore a uniform, it would get better funding. It's almost as if funneling wealth to the top and gutting social safety nets has consequences. Who knew that unchecked capitalism, coupled with a political class more interested in defending foreign borders than housing its own citizens, would lead to
such an unfortunate outcome? Next, they'll discover the sky is blue and water is wet.