Comment by trollbridge
2 hours ago
If housing supply is constrained, higher salaries simply mean people bid more on rentals and rents go higher.
The only answer is to build more housing and have a high property tax in unoccupied housing.
2 hours ago
If housing supply is constrained, higher salaries simply mean people bid more on rentals and rents go higher.
The only answer is to build more housing and have a high property tax in unoccupied housing.
But housing supply is not constrained. There is more housing than people.
You could build as much more housing as you want, but if those houses only become accessible to purchase for those who already own real estate instead of for those who work, then nothing will change.