Comment by raincom
10 hours ago
The more the housing costs, the more employers have to pay in wages. And this forces employers to look for cheaper labor elsewhere: offshoring. CEOs and share holders are not going to solve the housing problem, as it is a political and social problem. However, politicians want to solve it using higher wages and 60 year mortgages, etc.
You got it backward. Outsourcing causes debt (and higher inflation) and decreases per capita earning power. Thus housing becomes practically more expensive. Framing housing as a problem for CEOs to even consider solving is just backward. Higher average wages actually would make housing more affordable, and enable more people to pay for construction. But the "good enough" jobs are getting scarce because we live in the "richest country in the world" (and the West overall is in the same ballpark).