Affordable Housing and the Future of Jobs

Affordable Housing and the Future of Jobs are Heavily Linked

Affordable housing and the future of jobs are closely connected. Any factors that impacts on jobs will have an impact on affordable housing.

Everything You Think You Know About the History and Future of Jobs Is Likely Wrong

“47 Percent…” That’s the highly-cited estimate out of Oxford by Frey and Osbourne of the percentage of existing jobs that are likely to be automated away with the help of technology within the next two decades. According to this paper, flip a coin and call heads or machines to see if your job will exist in 20 years. There does tend to be one caveat to this dismissal of automation fears — that most of all of these high-skill jobs will require high-skill labor, and thus a highly-skilled work force which in turn will require more education. Via medium.com

Although that isn’t the full picture. Affordable housing and the future of jobs link most importantly by technology causing a “hollowing out” of job creation. This is what is destroying the middle class as the graph below illustrates.

 

affordable housing and the future of jobs David Autor

David Autor Ford Professor of Economics

There have been periodic warnings in the last two centuries that automation
and new technology were going to wipe out large numbers of middle class jobs.

specifically, the problem that productivity was rising so fast it might outstrip demand for labor

Affordable housing and the future of jobs: What if we just don’t need to work?

The interesting question about affordable housing and the future of jobs is that as group we won’t be poorer. Our needs and wants can just be satisfied without our physical work. The question is how we distribute wealth. How do you pay for a house without a job even when there are no or fewer jobs needed to build the house?

Think about how our previous article on 3D printing houses effects the job market.

In the past, new industries hired far more people
than those they put out of business. But this is not true of many of today’s new industries. . . .“The Automation Jobless,”  TIME February 24, 1961

We have more need for low paid baristas to make our coffee or highly skilled surgeons to heal. We have less need for middle level management and administrators to be well trained and well paid.

Given the new relationship between affordable housing and the future of jobs how do these people afford a house?

Long Term Rental

The issues with affordable housing and the future of jobs can be addressed through registered housing providers lease properties on the open market for the long term. These blue chip tenants are some of the largest owners of residential investment property in Australia. Many with $1 Billion balance sheets tacitly backed by state and federal governments.

The need for these properties is expanding but investment opportunities are snapped up fast.

Why wouldn’t they be when they cost as little as $35/week after tax. Come with a home loan rate as low as 2%p.a. and are fully tenanted and maintained for 10 years!

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