Me personally I think the economy sucks because houses built for 150,000-200,000 dollars are going for a million right now, and I have to pay 1200 a month for a single bedroom and shared kitchen and that ONLY benefits the very high income landlords/real estate workers but yeah you might be onto something.
Liberalism trickle down effect (s). Sad
What nobody has mentioned in the housing cost discussion is the decline in commercial real estate. Offices and retail spaces are overbuilt (and perhaps were even pre-pandemic), and instead of just taking their losses the investors are jacking up residential prices to compensate. And, as much as everyone wants a bogeyman, this outcome has nothing to do with liberals or conservatives.
Likewise, nobody seems to acknowledge the increase in retail rents for commercial tenants either. Every week I read about restaurants and stores going out of business because their landlords keep jacking up rents to make up for increased vacancies. The blame does not completely lie with the workers who are getting wage increases.
What nobody has mentioned in the housing cost discussion is the decline in commercial real estate. Offices and retail spaces are overbuilt (and perhaps were even pre-pandemic), and instead of just taking their losses the investors are jacking up residential prices to compensate. And, as much as everyone wants a bogeyman, this outcome has nothing to do with liberals or conservatives.
Likewise, nobody seems to acknowledge the increase in retail rents for commercial tenants either. Every week I read about restaurants and stores going out of business because their landlords keep jacking up rents to make up for increased vacancies. The blame does not completely lie with the workers who are getting wage increases.
you are describing...capitalism. The value of some properties will rise, the value of others will fall. Capital will seek out the best opportunities and serve as an invisible hand to provide prosperity. Such as it always will be in capitalist economies.
What nobody has mentioned in the housing cost discussion is the decline in commercial real estate. Offices and retail spaces are overbuilt (and perhaps were even pre-pandemic), and instead of just taking their losses the investors are jacking up residential prices to compensate. And, as much as everyone wants a bogeyman, this outcome has nothing to do with liberals or conservatives.
Likewise, nobody seems to acknowledge the increase in retail rents for commercial tenants either. Every week I read about restaurants and stores going out of business because their landlords keep jacking up rents to make up for increased vacancies. The blame does not completely lie with the workers who are getting wage increases.
you are describing...capitalism. The value of some properties will rise, the value of others will fall. Capital will seek out the best opportunities and serve as an invisible hand to provide prosperity. Such as it always will be in capitalist economies.
Unregulated capitalism = feudalism.
The real estate industry both commercial and residential is going to require some anti-monopoly regulation. If the portion of both types of real estate ends up in the hands of a few things will continue to get worse. No invisible hand to fix it.
What’s happened to the poorest working Americans since 2020 is simply unprecedented and life changing.
But DoorDash and McDonalds cost $16.50 now so the MacBook class is raging.
Yes this is what’s so maddening: we are in the middle of a huge rise in wages of low-income people, a big reduction in income equality. But the online “left” is behaving exactly like upper-middle class consumers, complaining prices are too high, largely because labor costs more. https://t.co/DmRUoL3Ctkpic.twitter.com/A1LtHgVnfL
