Things with limited supply are becoming more unaffordable because the rich are much richer than they were before. So if housing is limited and is seen as an investment vehicle, it becomes unaffordable.
The same goes for health care. There is a limit supply of medical care. Some people can afford much more than others which compounds the issue.
Americans (and most of the collective West) can afford all things that are not in limited supply - food, clothing, gadgets, transportation, etc. This is amazing in the context of history.
The weirdest thing is that both health care and housing do not need to be limited supply. It's completely artifical. We make bad governing decisions that force it to be so. Our problems are not economic but social/organizational ones.
Relatedly, I was quite surprised when recently I realized that the median (adjusted for PPP) disposable income in America was the highest in the OECD (except Luxembourg):
https://en.wikipedia.org/wiki/Median_income
This means that the average american really really is financially better off than anywhere else in the world. I'd say that their quality of life isn't - they die much earlier than the rest of OECD, for example. But they are definitely the richest. And not just the richest american but the average american.
People want a single family homes with a nice property in nice area. They want a short commute and all the convenience of modern life.
There is in fact a hard limit on how many single family homes you can have in a an area. You can build them somewhere else, but then you get long commutes or short commutes to low paying work.
HN, let me remind you, most people do not work in tech banging on a keyboard all day with mild collaboration. Most people still need to commute to their jobs at least once a week. The majority still need to go in everyday.
If I ever raised a family [0], I would very, very strongly prefer them to live in a reasonably-sized condo or apartment in a big city, rather than in the suburbs or in the sticks. There's more to do, better and more diverse food, a far more diverse set of people (and ideologies) to meet, and the environmental impact of one's consumption is much, much smaller per-capita than living outside of the city. [1]
It's to city managers' great discredit that they don't prioritize making it reasonably possible for families to have a decent quality of living within the cities that they manage. (If they did this, one would expect the quality of living for every ordinary person in the city to inevitably become substantially better.)
[0] And I will not, because I would be an absolutely terrible parent.
[1] Or, that was the case prior to the collapse of shopping in many big cities. Now, I guess many folks get stuff shipped direct to them, just as if they were living in the middle of nowhere.
We're not building out or building up. So yeah. It's bad.
At least here in San Francisco, even old condos have HOA fees that are within shouting distance of "market rate" rents... on top of the absolutely absurd purchase price. It's madness.
That doesn't really tell you all that much useful. Disposable income just deducts taxes from your gross income. What really matters is the cost of those other things we're talking about: food, housing, healthcare, childcare, etc. When you subtract those out as well, you get discretionary income, and I bet the US is not leading at all there.
I don’t think this corresponds with what most people think that means. i.e. gross income - (taxes + housing costs + food + health/childcare). I certainly didn’t.
Suffice it to say that trying to directly compare individual wealth across disparate populations is so disingenuous as to be tantamount to spreading falsehoods. People feel poor because they are poor; Americans simply cannot afford many of the things that other developed economies provide for their residents. We can make lots of small changes to help with this^ (i.e., we don't need a massive overhaul or revolution), but the people calling the shots have to actually admit that people are not doing well, and that the costs people face today are burdensome. They won't, because they're afraid of not being reelected (and then they lose anyway).
^Solve food deserts by opening bodega-like shops in both urban AND suburban neighborhoods.
^Replace surface parking with structures housing amenities that people can walk to.
^Increase mass public transit access by building rail and bus/bike lanes.
Looking at the numbers, it doesn't seem so much that America chose Trump as they refused to choose Harris; her popular vote total is in the middle of Obama's, and Trump's is roughly the same as last time. I recognize and agree that Trump is worse. As much as Harris wanted to make that what the election was about, as with Biden in 2020, that's simply not what it was. The election was about if Harris could do better than Biden, as an executive. She couldn't show that she would, so the people who came out for Biden did not come out for her.
The economy is 100% intentionally managed to protect the prior generations story mode way of thinking