They’re charging the absolute maximum that they can get away with
That’s how all economics works. If you found a job where, in your opinion, you were really overpaid for the work burden - would you go to your boss and ask them to pay you less?
The root of the housing problem is undersupply, which imo is due to a nationwide patchwork of NIMBY policies driven by Boomer landlords, especially in big cities. Younger people and renters just don’t fucking vote, especially in the local elections where housing policies are decided. So Boomer retirees ensure that 95% of the city is zoned for single family housing, and no apartments can get built.
If that’s how economics works, just giving us the perfect argument for why economics is a bullshit field. Human beings need shelter to survive. It’s a human right. It’s one of those super important things, up there with water and food.
If you’re buying into an economic system that doesn’t make sure that right is filled, then you have a problem with morality, and perhaps also mortality.
If that’s how economics works, just giving us the perfect argument for why economics is a bullshit field. Human beings need shelter to survive. It’s a human right. It’s one of those super important things, up there with water and food.
Economics is a soft science. Economics is not about describing how things should work, economics is about describing how things do work. Whether you want to support the system or tear it down, understanding it is extremely helpful to either cause.
That’s how all economics works. If you found a job where, in your opinion, you were really overpaid for the work burden - would you go to your boss and ask them to pay you less?
The root of the housing problem is undersupply, which imo is due to a nationwide patchwork of NIMBY policies driven by Boomer landlords, especially in big cities. Younger people and renters just don’t fucking vote, especially in the local elections where housing policies are decided. So Boomer retirees ensure that 95% of the city is zoned for single family housing, and no apartments can get built.
If that’s how economics works, just giving us the perfect argument for why economics is a bullshit field. Human beings need shelter to survive. It’s a human right. It’s one of those super important things, up there with water and food.
If you’re buying into an economic system that doesn’t make sure that right is filled, then you have a problem with morality, and perhaps also mortality.
Economics is a soft science. Economics is not about describing how things should work, economics is about describing how things do work. Whether you want to support the system or tear it down, understanding it is extremely helpful to either cause.