Every decade, technology makes us dramatically more productive. Every decade, GDP growth slows. These two facts should not coexist — and understanding why they do reveals the defining economic tension of our era.
The problem isn’t available housing, it’s artificial price inflation. There is no regulation on how much landlords can charge, so they just keep raising the price. Plus, they turn their vacant properties into AirBNBs, or worse, their only intention with the property was to turn it into an expensive AirBNB to begin with.
The problem isn’t available housing, it’s artificial price inflation. There is no regulation on how much landlords can charge, so they just keep raising the price. Plus, they turn their vacant properties into AirBNBs, or worse, their only intention with the property was to turn it into an expensive AirBNB to begin with.