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Small-Scale Question Sunday for August 27, 2023

Do you have a dumb question that you're kind of embarrassed to ask in the main thread? Is there something you're just not sure about?

This is your opportunity to ask questions. No question too simple or too silly.

Culture war topics are accepted, and proposals for a better intro post are appreciated.

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I’ve been seeing posts on social media about unaffordable the housing market has become (in terms of home price to income ratio). Many people who don’t already own a home are locked out of the home ownership market because the monthly mortgage payment and down payment required has increased a lot faster than the median wage since 2020.

What impacts will unaffordable housing have on politics? Do you think we might see a shift from identity-based politics to politics more focused on economic inequality?

One thing with housing is that we have examples of localized unaffordability that are much more extreme than most national housing issues, so the local response should give us an idea of what a nationwide response might be. Think of areas like San Fran, Vancouver, London, or most notably Hong Kong. These are often areas where there is some control over house building rates or other local powers that could swing things.

Hong Kong is both the worst in terms of affordability and the one with more control over local issues, but what have we seen there? The only protests in recent years have been from pro-democracy groups. The residents have just accepted worse and worse housing. Even if you believe the CCP's control is a unique situation, it's not like we've seen differently in other overpriced metros.

San Francisco is among the urban centers that had unprecedented population declines during this time. From 2020 to 2021, the S.F. population fell to its lowest level since 2010, erasing a decade worth of population growth in a single year. Similar changes occurred in large cities across the country. New York, Washington, D.C., and Boston each saw outsize outmigration during this time.

Source: https://www.sfchronicle.com/projects/2023/maps-migration/

Some people aren't accepting worse housing they just simply move instead of waiting for conditions to improve. This migration then impacts politics because people bring their political beliefs with them, often causing shifts in the political climate of their new location.