Naked and Afraid?
Submitted by Atlas Indicators Investment Advisors on November 29th, 2024Atlas thinks a lot about maps and modeling. These tools allow us all to better understand complex systems without having to have every piece of information; think Alfred Korzybski’s idea that, “the map is not the territory.” Nevertheless, these maps and models of cities, for instance, help us navigate large and everchanging transportation arteries across the nation.
Other models are useful as well. While sometimes criticized for its focus on Western society, Abraham Maslow famously developed his eponymously named Maslow’s Hierarchy of Needs. In short, it’s a five-tier model of human needs, depicted in a pyramid format (like the old food group chart).
At the base of the pyramid are the physiological needs. These are some of the most basic requirements every human needs, things like air, water, food, clothing, and shelter. Once those were secured, early man moved up to the next tier, pursuing safety and security needs. Today, this level includes the protection of things and concepts like employment, health, resources and even property.
At first glance, these initial tiers are relatively basic needs in an advanced economy. Unfortunately, there is growing evidence suggesting some Americans are willing, and in some cases are actually, sacrificing safety in return for a home to call their own. According to a Qualtrics survey commissioned by the real estate firm Redfin (read more about it here), nearly one in five (17.3 percent) of house hunters are willing to sacrifice their physical safety to find a home they can afford in the next year. Drilling down further, the study shows that 23.7 percent of Gen-Z house hunters are willing to live somewhere less safe if it means they can own a home.
Striving to meet basic needs and achieve higher levels of fulfillment, some are finding it crucial to balance their aspirations with more forgiving considerations of safety and well-being. The willingness of many to compromise on these factors of life for the sake of home ownership underscores the ongoing challenges and disparities within the American economy. Finding a secure home is a more difficult endeavor, and one for which no model seems to have yet solved. Perhaps the winner of next month’s election will have a proposal.