Because if your house goes underwater, you keep living in it for years until it recovers and grows. With leverage on equity you get margin called during drops that kill your investment and give you no capture of future recoveries.
Can somebody please explain to me how these people continue to live? I’m sure many people want to quit their jobs and just walk out. But how would one pay rent, food and expenses? I’m not too familiar with welfare, but even for that don’t you need to be looking for a job?
First world countries have created a bind for themselves. Wages have been suppressed for decades while prices have been steadily rising. The cost of housing has skyrocketed and for many the need to own a car and pay for fuel is now out of reach. Along with the many hours needed to commute.
Many are now finding that they simply can't afford to go to work.
All this while there are many alternatives. For those with savings, simply retire. Live in a van. Live with parents. Move to the country. Work occasionally on a "cash in hand" basis. Take up crime, prostitution, etc. It's called "living between the cracks".
i have the same question but americans don't have a good answer or at least no one has given a good answer yet. Why do americans have a fixation for "leaving the nest" and a disdain for "living with mom"?
in india, anyone who emigrates anywhere. be it the other side of the city or neighboring city or a different part of country or even abroad, the idea is if things don't work out, they just return "home". we saw that in 2020 when there was mass migration back to villages from cities and expats returned en masse. most have stayed back because their jobs aren't back.
i fail to understand if american cities, big ones are made up of people from smaller towns, why don't they return back if they loose a job or something? sure there are cases like mortgage and all but what about being on the street?
i'm pointing out economics of what you wrote. why does a newly homeless couple have to stay on the streets when they could potentially back a bus back to their parents homes?
do parents not tolerate their kids? "you've flown the nest so don't ever come back again"?
Homelessness in Western countries is not about money, the people on the street are mentally or physically disabled or do it by choice.
It is essentially impossible to genuinely be homeless in the UK for more than a few weeks unless you just can't be arsed. There are huge job surpluses at the moment and the minimum wage is twice as much as is needed to rent a room even in London.
>mentally or physically disabled or do it by choice.
fine. point taken about those. what about the "job lost" or
"bank forclosed my home, i am homeless".
i agree but shouldn't the state look after physically or mentally disabled? or is "socialism" too russia to accept as proud americans? i agree. where i live, we have the same thing. the market is shit but people are not on the streets. people prefer living 5 families in a home, 1 in each room instead of trying to "make your own nest" by renting and then not being able to afford.
You have some land usually right in rahnewali, that is not usually the case in America or land is not something you can live off of. In very rural South like around Lake Charles people do live off land but that is very low cash income and they are not spending/earning much and mostly bartering. That land is also fragmented from generations so landholdings can’t support all family and many leave (I don’t know how it is in J and K with the state land act being reversed now)
[citation needed] - I mean, it sounds plausible, but there's also a lot of genuine poverty out there, such as the explosion in foodbank use, so it would be good to have something a bit more investigative.
