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Canada's population drops as country caps immigration (www.bbc.com)
submitted 10 months ago by to c/canada@lemmy.ca
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[–] 14 points 10 months ago (5 children)

Elizabeth Warren wrote a book about this issue 2 decades ago: The Two Income Trap.

It used to be that you could afford a mortgage on 1 income. Now you can’t even afford it on 2. The explosion of 2 income households has made it much harder to compete in the bidding wars for housing.

At the same time, homeowners (NIMBYs) go to city hall and fight tooth and nail to protect their investments by blocking new housing development. It’s this horrible cycle of ladder pulling.

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  • [–] 2 points 10 months ago*

    I haven't read, but read a brief summary. Thanks for sharing.

    It felt unintuitive to me at first. Why would two incomes be more risky than a single income? But yeah if one of those two become incapicated/unable to find work.. you are screwed since you need both. Single income you essentially have a backup (assuming they can find work)

    So, reduced work week would free up needed time and reduce convenience costs, but families are still exposed.

    But I don't want to go back to a single income household at a societal level (doesn't sound like EW did either). Tricky.

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  • [–] 1 point 10 months ago (3 children)

    Elizabeth Warren wrote a book about this issue 2 decades ago: The Two Income Trap.

    and she did nothing about it.

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  • [–] 2 points 10 months ago (2 children)

    What did you expect her to do about it?

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