Thanks for not reading the rest of what I wrote, small town = lower price, just get a local job for a lower salary and but a house and you’re at the same level as a high paying job living in a rental property in the city
We did that a little over a decade ago. One thing to watch out for is that it could be a one way trip. We’re now retired. The lower wages mean that the retirement income is also lower. That would be fine, except that now we’re looking at what the future holds for health care and driving. We’re fine as long as we can stay here, but anything that forces us back to the city means absolute destitution.
That’s not an actual solution though. Not everyone is in a position to simply uproot like that, when you may need services that aren’t available in small towns, or you might be caring for someone who can’t move, or you might just be part of a tight-knit family or community and moving takes away more support than independence gives. Even if that’s irrelevant, not everyone can simply find a job in a small town because every job doesn’t exist in the same way everywhere. Think there’s a lot of demand for administrative assistants in Irvine, AB? And that’s not even counting the fact that while people can work remotely (assuming the destination has decent internet, which depending on how small & remote the town is is not a guarantee), there’s plenty of companies whose policies have removed it because they need to justify their investments in real estate and middle managers.
Even if we assume a genie appears and gives everyone who wants it the opportunity to find fulfilling jobs that they can work from small towns, exactly how long are those prices going to stay low as soon as people jump ship from the cities, or worse, once real estate investment companies are able to create income properties in these same places?
And that’s not counting the fact that it’s expensive to move, and especially moving a long way. Even if you just rent a U-haul and chuck all of your junk into it, the truck costs, fuel costs, there’s usually hookup fees for services, you may not be able to work during this time if you can work remote, or you may have to go without pay if you’re between jobs… It’s not an insignificant barrier to entry and that’s assuming you’re young and healthy and none of those are concerns. Moving away from major cities is potentially a workable solution for some people, but it doesn’t solve anything and it doesn’t help the people who most need help.
If you can’t afford to move then the fact that you can’t own a house is the least of your troubles.
Tons of jobs in remote locations, do you think the boomers people love to hate all worked their dream job?
There are exceptions, but let’s not pretend everyone that’s complaining is in a situation where they qualify as an exception.
Housing is expensive sure, but I’m shopping right now and I could buy a house tomorrow for 250k and I would be at a commuting distance of a city of over 200k. Heck, I had trouble selling my condo for 160k inside an urban area of over 1m!
Know what’s funny? I bought it because that’s what I could afford and it allows me to look for a single family house ten years later. Meanwhile my friends are complaining they can’t buy a single family house as their first property… That’s like wanting a job before you go to school!
Sure, you make your choices and deal with the consequences, if your professional life is more important than owning a house then go ahead and live in an environment where you can’t expect to own one.
Reminder: People owning a house in the city is an historical anomaly and is unsustainable.
