> labor costs are largely a function of local real estate costs
Difficult to determine causality in that system. All we can say is places with expensive labour tend to have expensive real estate. (The confounding variable, I imagine, is immigration.)
> labor costs are largely a function of local real estate costs
Difficult to determine causality in that system. All we can say is places with expensive labour tend to have expensive real estate. (The confounding variable, I imagine, is immigration.)