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When was the last time you tried to rent an apartment in a city (close to the jobs available)? I'm sure the official inflation rates are low, but when you're lo
by xiphias 10y ago
When was the last time you tried to rent an apartment in a city (close to the jobs available)?
I'm sure the official inflation rates are low, but when you're looking at real life of real people, they _need_ to move to a big city in a western country to have a normal life and rent a flat there (which is probably the biggest single cost of living).
- jbmorgado 10y agoSeriously, are you trying to tell us that with bitcoin rents wouldn't go up? Are you trying to tell us that rent hikes are not a symptom of gentrification but of evil inflation?
- xiphias 10y agoWith Bitcoin cash wouldn't be so cheaply available to the selected few. Gentrification means that the demand for urban space is growing. The huge inflation in fiat supply means that more fiat can be spent on buying urban buildings and assets (and stopping urban development). The natural reaction way would be to build Skyscrapers in every city (and blend it somehow nicely with the cities)
- pjc50 10y agoYes .. although housing has traditionally been excluded from consumer inflation measures. There's an argument to be made that housing cost has gone up as a result of cheap credit (although arithmetically that should raise the sticker price while keeping the monthly payments the same), but it also appears to be due to capital inflow. This is the reverse side of the trade deficit with China.