Re: Land rent and the working poor

On Tue, 10 Apr 2007 22:11:29 -0400, Les Cargill in sci.econ
confessed to the world saying:
jmh wrote:

On Tue, 10 Apr 2007 07:43:23 GMT, royls@xxxxxxxxx in sci.econ
confessed to the world saying:

On Tue, 10 Apr 2007 00:38:42 GMT, jmh <jmhall@xxxxxxxxxxxxxxxx> wrote:


On Mon, 09 Apr 2007 18:53:19 GMT, royls@xxxxxxxxx in sci.econ
confessed to the world saying:

On Mon, 9 Apr 2007 14:17:58 -0400, "sinister"
<sinister@xxxxxxxxxxxxxx> wrote:


http://www.washingtonpost.com/wp-dyn/content/article/2007/04/08/AR2007040800998.html

"...half of all 'working poor' families spend more than half their income on
rent."

Of course, "rent" in the vernacular sense encompasses but is not the same as
land rent. Though in urban areas, it's reasonable to assume a very large
fraction of vernacular rent is land rent.

As the poor almost always live in housing that is older and fully or
almost fully depreciated, it is safe to say that 90+% of their housing
cost is land rent.

Which poor are we talking about?

All of them.


Or are you talking
about accounting depreciation?

No, I am talking about the improvement value fraction of their
dwellings.


Doesn't make sense to me. Sounds like you're saying that
the value of the housing, from an ecnomic perspective,
is zero.

Improvements go to zero in value over time.

At which point the "housing" would provide no
economic service and the person would be indifferent
to standing in the house to get out of the rain and
standing somewhere out side the house to get out of
the rain.

If so then why are these people not choosing
homelessness and taking bath's in the YMCA or YWCA or
some other similar place?

What't tying them to the land rent?

jmh

Access to goods and services, or to fertile land.

In general, proximity to the means of production.

All of which are available to the person not living in
the 0 value housing as well.

jmh
.

Relevant Pages

  • Re: Land rent and the working poor
    ... Because value is what the poor are paying rent for, ... There are certainly _some_ poor people living ... living in subsidized, charity, government-owned or co-op housing, etc. ... uncertainty of the land rent and the rounding error. ...
    (sci.econ)
  • Re: Land rent and the working poor
    ... confessed to the world saying: ... "...half of all 'working poor' families spend more than half their income on ... "rent" in the vernacular sense encompasses but is not the same as ... fraction of vernacular rent is land rent. ...
    (sci.econ)
  • Re: Land rent and the working poor
    ... confessed to the world saying: ... "...half of all 'working poor' families spend more than half their income on ... "rent" in the vernacular sense encompasses but is not the same as ... fraction of vernacular rent is land rent. ...
    (sci.econ)
  • Re: Land rent and the working poor
    ... confessed to the world saying: ... "...half of all 'working poor' families spend more than half their income on ... fraction of vernacular rent is land rent. ... it is safe to say that 90+% of their housing ...
    (sci.econ)
  • Re: Land rent and the working poor
    ... confessed to the world saying: ... "...half of all 'working poor' families spend more than half their income on ... "rent" in the vernacular sense encompasses but is not the same as ... fraction of vernacular rent is land rent. ...
    (sci.econ)