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As long as there is more demand than supply, wages will never keep up with housing prices. It's a simple matter of math (the pigeon hole principle, actually).
by ktRolster 10y ago
As long as there is more demand than supply, wages will never keep up with housing prices. It's a simple matter of math (the pigeon hole principle, actually).
- esaym 10y ago>> (the pigeon hole principle, actually). IE if there are 10 houses for rent and 11 people want to rent, there will be one house in which will have two people trying to rent it.. lol
- im4w1l 10y agoThey could live in the same house.
- dionidium 10y agoThe same principle explains why many rust belt cities have vast areas of abandoned tracts. It's not that they actually lost people. Regionally speaking, most of them didn't. But sprawl created new homes while not adding new families to live in the old ones. The math in both cases is pretty straightforward.