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I agree scarcity is the issue but I think income scarcity is the greater macro driver but made worse by artificial housing scarcity. I think that’s why the divi
by rubyfan 5y ago
I agree scarcity is the issue but I think income scarcity is the greater macro driver but made worse by artificial housing scarcity. I think that’s why the divide between housing prices and income is growing. Without income scarcity I don’t believe housing prices would outpace income growth.
- onlyrealcuzzo 5y agoIncome is essentially the medium. I'm having trouble imagining how income is scarce - in the same way money can't really be "scarce" - the value would just adjust. If there's too much demand for money (because there's not enough) - the value goes up. Do you mean income is distributed extremely unequally?