2 ms·
> once again basket allocation is lower than it should be for rent No, rent and owner's equivalent rent make up a quarter of the inflation basket - just in exa
by MagnumOpus 6y ago
> once again basket allocation is lower than it should be for rent
No, rent and owner's equivalent rent make up a quarter of the inflation basket - just in exact proportion to their share of aggregate consumption expenditure in the US.
The San Francisco tech bro who spends 70% of his take-home on rent is not representative of the US population at large...
- rdtwo 6y agoBut it fails to account for property taxes which in many areas have increased dramatically.
- eru 6y agoIf only! Property taxes are close to free of deadweight losses. (Only the proportion of property taxes that falls on the buildings etc causes deadweight losses. The proportion that falls on the value of the land is free of deadweight losses. See Land Value Taxes.)