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Younger workers are being locked out of the Sonoma County housing market
This article is on the housing crisis that is happening in Sonoma County and how it is affecting the younger generation.
The current median price for a house in Sonoma County is double what it was five years ago, at $639,000, which set a new record for the first time in 12 years. This affects the younger generation and makes it harder to purchase a house in Sonoma County. Not only are houses extremely expensive but increasing student debt for those wishing to get a higher education is contributing to the problem. On top of that, with the housing market being so expensive, monthly mortgages are higher and the annual income needed just to make the mortgage payment is higher than before, and in most cases is unattainable.
After regular bills, any debt that has been accumulated, unforeseen circumstances that could lead to unforeseen bills and life in general, it is hard to even save enough money for a substantial down payment on a house to become a homeowner in the first place. Affordable houses for young workers is in high demand right now, and if something can’t be figured out, we are going to be seeing a lot of the younger generation relocating elsewhere or never becoming homeowners at all.
After regular bills, any debt that has been accumulated, unforeseen circumstances that could lead to unforeseen bills and life in general, it is hard to even save enough money for a substantial down payment on a house to become a homeowner in the first place. Affordable houses for young workers is in high demand right now, and if something can’t be figured out, we are going to be seeing a lot of the younger generation relocating elsewhere or never becoming homeowners at all.
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The only reason to buy a house is for the tax shelter, and only those making over $100,000 a year need a tax shelter like a house. If you do not make enough to itemize deductions, which is certainly everyone who makes less than $100,000 a year, than you do not need to own a house. Otherwise you are better off renting and let the landlord pay the maintenance bills, for which the landlord gets a tax writeoff as a business expense.
The inability to buy a house is everywhere since 80% of Americans make less than $80,000 a year. As to the minimal benefits of a college degree in increasing income, if you cannot afford to go to college without a loan, then you are better off just going to work since any job provides (1) a paycheck, (2) Social Security benefit, (3) Medicare benefit, (4) unemployment insurance and (5) State disability coverage. Many jobs also provide health insurance and pension. And you will not be paying any student debt for most of your life. You can read books on your own; you do not have to sit in college to read books.
Instead of worrying about home ownership, it is best to promote a society where all housing is publicly owned housing, a socialist society.
The inability to buy a house is everywhere since 80% of Americans make less than $80,000 a year. As to the minimal benefits of a college degree in increasing income, if you cannot afford to go to college without a loan, then you are better off just going to work since any job provides (1) a paycheck, (2) Social Security benefit, (3) Medicare benefit, (4) unemployment insurance and (5) State disability coverage. Many jobs also provide health insurance and pension. And you will not be paying any student debt for most of your life. You can read books on your own; you do not have to sit in college to read books.
Instead of worrying about home ownership, it is best to promote a society where all housing is publicly owned housing, a socialist society.
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