How Far Would House Prices Need To Fall For Young People Today To Have It As Good As The Boomers Did?

Boomers have been denying it for years, but young people all over the West have now caught on: the Boomers had it much, much better than young people today do. Measuring exactly how much better is hard, but we can guess by comparing how much saved labour Boomers needed to buy a house to how much saved labour younger generations need. Armed with the Reserve Bank’s Inflation Calculator, we can make some educated guesses.

If the last Boomers were born in 1963, graduated high school, then went to university or did a trade apprenticeship, they would have hit the job market – and started looking for a home to raise a family in – in about 1984. Any Boomers older than this would have had an even easier time. So we will compare the house-buying power of a young adult in 1984 with that of a young adult in 2022.

According to qv.co.nz, the average New Zealand house price in October 2022 was $951,040. The Reserve Bank calculator tells us that housing worth $951,040 in October 2022 would be worth $61,854.79 in the first quarter of 1984.

According to the Government’s NZ History page, the average weekly wage in 1984 was $285. This suggests that the average house price was about 217 times the average weekly wage in 1984. In other words, Boomers had to save about 217 weeks’ worth of wages in order to afford the average house.

According to the wage and salary guide at jobted.nz, the average weekly wage in New Zealand in 2022 was $1,093. So the average house price today is about 870 times the average weekly wage. This means that it’s over four times harder for young people today to buy a home they can raise a family in, when compared to Boomers.

The official narrative is that we need to grow wages if we want to bring back the living standards that our parents enjoyed. But there will never be enough wage inflation to bring today’s worker back to that level of prosperity. Our wages would have to quadruple while house prices remained the same. Therefore, if we are to ever enjoy that standard of living ourselves, we have to hope for a house price collapse.

A return to an average house price that was 217 times the average weekly wage would require a fall of 75.1% from current values. This means a fall from around $951,040 to around $236,809. Note that this would not mean that young people today had a better standard of living than the Boomers – it would merely mean that they would have an equal one.

An average house price of $236,809 seems fantastical to young people today.

It’s incredible how much easier life would be for young people in 2022 if the average house cost less than a quarter of a million. It would mean an end to the mortgage slavery that is strangling the West. It would mean that thousands of hours of labour per mortgage holder, currently getting sucked into bank profits, could be redirected to the benefit of families and communities.

That is also why we can’t expect it to happen – there is nothing more profitable than human misery, and mortgage slavery is one of the prime examples of that in the world today. The more expensive houses are, the more human life energy the owners of those houses can absorb from the lower classes in exchange for them. So the ruling class is not likely to change anything anytime soon.

Therefore, the best young Kiwis can hope for, if they want to ever have the same standard of living that the Boomers had, is a house price collapse of at least 75%. The mainstream media will tell us that we’re not allowed to hope for that, because it would mean the destruction of the New Zealand economy. But the status quo is our effective financial enslavement. Something has to give.

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Genetic Infrastructure

There are several components of the wealth of nations. As Adam Smith wrote, it’s primarily a function of natural resources, human resources and quality laws/leadership. Writing in the late 18th Century long before Darwin, Smith didn’t know about natural or sexual selection, much less genes and DNA. His conception of human resources was based around education, and missed out one crucial element.

The crucial missing element: genetic infrastructure. If education consists of those memetic qualities within that nation that lead to wealth and prosperity, genetic infrastructure consists of those genetic qualities within that nation that lead to wealth and prosperity. It is the value of having good DNA.

The primary component of genetic infrastructure is intelligence (or, more precisely, the presence of those genes that lead to high intelligence). Contrary to popular belief, intelligence is mostly hereditary in adults – indeed, as the linked paper states, “Intelligence is one of the most heritable behavioural traits”.

Intelligence is the most powerful predictor of several different social outcomes. It is the strongest predictor of lifetime educational achievement and of lifetime criminal convictions. It’s also the strongest predictor of future wealth. All other things being equal, a high-IQ person with an average education will earn more wealth during their lifetime than an average-IQ person with a high education.

Furthermore, intelligence is the single most powerful predictor of future wealth on the national level. Not even natural resources come close to intelligence when predicting future wealth, as evidenced by the wealth of high-intelligence, low-resource countries like Japan, Germany and England, and the poverty of low-intelligence, high-resource countries like Nigeria, the Congo and Brazil.

A nation’s genetic infrastructure, then, is mostly a matter of intelligence. Other factors include physical health and strength, the degree of inbreeding and whether the phenotype expressed by the genes is suited to the physical environment, but these are comparatively minor.

Because a nation’s fortunes are so closely tied to the quality of its genetic infrastructure, understanding the details of that infrastructure allows us to make accurate predictions about that nation’s fortunes. This is particularly relevant if we can also measure changes in that genetic infrastructure, whether ongoing or expected.

For instance, if low-IQ people are outbreeding high-IQ people in a given nation, thereby weakening that nation’s genetic infrastructure, we can predict that outcomes typical for low-IQ people will become typical for that nation. We can predict that poverty, ignorance, crime and violence will all increase as the genetic infrastructure deteriorates.

On the other hand, an influx of high-IQ people to an area will strengthen that area’s genetic infrastructure. As such, we can predict that outcomes typical for high-IQ people will become typical for that area. Most examples of European colonisation fit into this category – the colonisation of 65IQ Australian Aborigines by 100IQ mostly British settlers is probably the most notable.

Of course, the genetic basis of intelligence is one of the greatest taboo subjects in the West today. Even winning a Nobel Prize in Biology does not permit a person to suggest that evolution has created human subgroups of different intelligence levels, as James Watson discovered.

Consequently, many will deny the very concept of genetic infrastructure, particularly blank-slatists, globalists, open-borders capitalists, Marxists and other biology deniers.

The truth is hard for many to accept, but it’s revealed clearly in the scientific literature. Wealth is primarily a function of intelligence, and intelligence is primarily genetic. Therefore, wealth is primarily a function of those genes that facilitate intelligence. Those genes – plus a few other, much less important factors – are what is known as genetic infrastructure.

Nations with a high-quality genetic infrastructure can easily rebuild even after their physical infrastructure is destroyed, as Japan and Germany did after World War II. Nations with a low-quality genetic infrastructure will disintegrate into poverty even if they somehow achieve a high level of physical infrastructure, as Argentina did in the 20th Century and South Africa did after 1994.

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Most Westerners Are Now Slaves

New Zealand was appalled yesterday by the news that a Samoan chief named Joseph Matamata had been convicted of enslaving 13 of his fellow Samoans. Matamata had brought the slaves to New Zealand as cheap labour to work in vineyards and orchards, and had kept for himself the vast bulk of their wages. New Zealand may have been appalled, but the average Western worker is a slave anyway.

A slave is defined as a person “who is someone forbidden to quit their service for an enslaver, and who is treated by the enslaver as their property. Slavery typically involves the enslaved person being made to perform some form of work while also having their location dictated by the enslaver. Historically, when people were enslaved, it was often because they were indebted, broke the law, or suffered a military defeat.”

The position of the average worker in the current economic and political paradigm of the West fits this definition. We currently live in a system where the average worker can labour all week long and have all of their productivity taken off them so that they are left with nothing at the end of it all. They might, in theory, be able to choose their location, but in practice they either don’t have enough money to change location or the remuneration is no better anywhere else.

The chattel slavery of the American South before the Civil War is held up as one of history’s worst human rights abuses. We are told that slaves in America were treated so poorly that they had every moral right to kill their enslavers. This is a belief with potentially serious implications, given that chattel slaves weren’t treated significantly worse than the average Western worker, who also labours all week to be left with nothing.

Profits, taxes and rents are so high in New Zealand that even those earning above the median wage are left with almost nothing that they can put towards owning their own house one day. Not only is the average house price now close to a million dollars, and not only is saving any real money restricted to the very wealthiest of income-earners, but what little savings one can accrue is getting rapidly eaten up by interest.

According to the New Zealand Government’s own cost of living calculator, a general practitioner living in Auckland with a partner and two children and making $133,000 per year will run a $317 deficit every week if they want an average standard of living. So not even a qualified doctor can afford to save anything towards a house now.

If a qualified doctor, in the top 1% of the population by education, can’t afford a house, that effectively means that no worker can. The only people who can afford houses now are those who already have money and those who manage the workers on their behalf, and the rest of us are just slaves, doomed to labour our entire lives for a standard of living lower than that our ancestors enjoyed 100 years ago.

Some might argue that the situation of the New Zealand worker is different today because, although the New Zealand worker is left with nothing after their workweek, at least they don’t have to endure the physical abuse that chattel slaves did.

But physical abuse has simply been replaced with psychological abuse. The New Zealand worker isn’t hit with whips, but they are told every day in the media that they are racist, sexist, hate speakers, wrongthinkers and generally a river of filth. This psychological abuse has a similar end effect to physical abuse: it depresses the spirit into a state of abject submission.

Moreover, at least a slave in the American South could rely on the solidarity of his fellow slaves. The New Zealand worker can’t even rely on that. Should the New Zealand worker complain of their poor situation, they’ll be told to “suck it up” or “just work harder”. As if how hard one works means anything when all one’s productivity is taken away!

Although workers have an easier time of it in other Western countries (Europe, North America and Australia), these countries are all also trapped in the low wage/high house prices and inflation death spiral.

Goethe once said that “None are more hopelessly enslaved than those who falsely believe they are free.” Workers of the West don’t have physical shackles around their ankles, but they have psychological shackles around their minds. These shackles have made them submit to a system where the vast majority of workers are left with no surplus for even the most physically or psychologically challenging work.

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The Purpose Of Mass Immigration Is, And Always Was, To Suppress Wages

The Western World has had mass immigration of cheap labour for over half a century now. When it began, we were told that it was going to make us all richer by growing our economies. When it didn’t make us richer, we were told that we were benefitting from it anyway on account of the cultural benefits of diversity. By 2022, the propaganda isn’t working any more. Now, the ruling classes admit what intelligent working-class people knew all along.

The reality is that the entire purpose of mass immigration was to suppress wages. This was why it was introduced in the first place.

Mass immigration of cheap labour was pushed by the international banking and finance interests who won World War Two, knowing that the nationalists who would have resisted them were defeated. So those international banking and finance interests were free to demand whatever they wanted – and what they wanted was cheap labour.

Basic economics tells us that the price of any good or service is a function of its supply and demand. Increasing the supply of any good or service lowers its price, and decreasing the supply of any good or service raises its price. This logic is so well established that it’s taught to high school economics students all around the world.

The ownership class of the West has strenuously denied this basic economic logic ever since the mass importation of cheap labour began. Increasing the supply of labour would actually make workers richer, they claimed, because of some magical network effect that would lead to a rising economic tide lifting all boats. Opponents of mass immigration were declared to be guilty of something called The Lump of Labour fallacy.

These lies no longer convince the masses. The average worker is now so much poorer than 30 years ago that only the absolute dumbest of them still believes that mass immigration has been beneficial to anyone besides the ownership classes. The propaganda is no longer having the same effect – people have now caught on to the fact that the point of all the immigration was to suppress wages.

This was even admitted by the Irish Central Bank, who raised concerns that there weren’t enough immigrants coming into Ireland to have the desired “wage-dampening effect”. According to the bank, “sustained increases in net inward migration will be needed in the coming years to ensure that growth will be not impeded by labour supply constraints.” Apparently fair wages for native workers are an impediment to the most important thing of all: economic growth.

The same truth has also been admitted in New Zealand, where Lincoln University researcher Dr David Dyason conceded that “as labour supply tightens, the competition between industries to source students and other employees is expected to increase. This would lead to wage and salary increases.” The ruling class now appears unable to deny the basic economic logic that increasing the supply of cheap labour decreases wages.

The statistics bear this out. In the 12 months to November 2021, Kiwi salaries increased by a record 7.6 percent, and the total amount paid to workers in that time period increased by 9.6 percent. The reason for these massive increases is simple: because of immigration restrictions brought about by the coronavirus pandemic, employers were no longer able to undercut Kiwi workers by importing cheap labour from overseas.

The reality is that there’s nothing that benefits the native working classes more than restricting the supply of cheap labour. By the same token, however, there’s nothing that benefits the ownership classes less than restricting the supply of cheap labour. That’s why employers all over the Western World are bitching about “labour shortages”.

A “labour shortage” is the name given to the phenomenon of a low level of labour supply driving up the price. The price of labour, in the minds of our ruling class, is supposed to only go one way – down. That’s because labour is considered an expense to be minimised. The fact that the price of labour equals the prosperity of the working classes is ignored – the working classes aren’t considered people.

Employers all over the West are united when it comes to solving “labour shortages”: open the borders, let the cheap labour in. This unity exposes the fact that border control restricting the flow of cheap labour is extremely beneficial to the native working classes.

The Establishment has an entire mainstream media apparatus dedicated to denying this obvious reality. Convoluted reasons are given for why the mass immigration of cheap labour somehow makes us all better off – our countries are underpopulated, our countries are too white, better food, immigrants do the jobs natives are too lazy to etc. Then, if this nonsense doesn’t convince someone, they are simply smeared as racists.

The facts are these. The ownership classes and the international banking and finance interests are the only beneficiaries of the mass importation of cheap labour. Everyone else loses. Therefore, it can be confidently stated that anyone in favour of the mass importation of cheap labour is an enemy of the native working class.

If you enjoyed reading this essay/article, you can get a compilation of the Best VJMP Essays and Articles of 2020 from Amazon for Kindle or Amazon for CreateSpace (for international readers), or TradeMe (for Kiwis). A compilation of the Best VJMP Essays and Articles of 2019, the Best VJMP Essays and Articles of 2018 and the Best VJMP Essays and Articles of 2017 are also available.

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