Why Can't You Afford a Home? Quotes

“There is increasing evidence that modern economies are driven less by the traditional and quite short-term ‘business cycle’ that most economists have focused their attention on (typically a couple of years) and more by a longer-term ‘credit’ or ‘financial’ cycle (between 16 and 18 years) that is mainly driven by land and property values.”
― Josh Ryan-Collins, Why Can't You Afford a Home?

“In New York City and San Francisco, for example, rents increased from about a quarter of median incomes in 2000 to almost half (42% and 46% respectively) by 2016.6 Meanwhile, 51% of renter households in the nation’s nine largest metropolitan areas pay more than 30% of their income – the standard maximum ratio for affordability – on housing.7 Saving for a deposit to buy a home becomes virtually impossible under such conditions.”
― Josh Ryan-Collins, Why Can't You Afford a Home?