2 ms·
The issue is that, loosely stated, most people who don't own are spending 30, 40, 50% of their income on rent essentially anywhere. It's not sustainable in any
by esotericn 7y ago
The issue is that, loosely stated, most people who don't own are spending 30, 40, 50% of their income on rent essentially anywhere.
It's not sustainable in any sense of the word. Their entire life is literally treading water. I've posted about this before - on an individual level if you can't save money you need to rethink your entire life, yesterday.
Of course, if you've already lost, you already have zero capital, well then you're in a very sticky situation indeed.
Any "solution" that involves a huge percentage of the population being actually skint and forced into making a series of incredibly short-term financial decisions is a band aid.
This is what an economy designed for the wealthy looks like. The bottom end of malleable labour pool participants is a 'feature', not a bug.