4 ms·
It's a comparison, but I wouldn't say a better one. You can't just rent a fraction of a property without sharing it with someone else, so the comparison is "Wha
by Jenk 5y ago
It's a comparison, but I wouldn't say a better one. You can't just rent a fraction of a property without sharing it with someone else, so the comparison is "What does it cost to get a place of your own in 1968 vs today?" and the answer is you either rent today's bigger but more expensive property, or don't - even if you could afford a 1968 property today.
- bluGill 5y agoAs Adam Smith observed, when people get more income it almost always goes to better places to live. Better can be more space, better location, or more luxury in the space. You can still find apartments built in the 1950s that are functional (places where the maintenance was done so they are essentially just as good as 70 years ago) and the rent is cheap. Most people want better.