Huh? The same dynamic is evident in literally every single leap in productivity and local wages in human history.
Surely if I'm wrong, you're willing to bet on it, correct? Easy money for you? Of course you won't because you obviously know this dynamic is real lmao
> Increases in state minimum wages significantly reduce the incidence of renters defaulting on their lease contracts by 1.7 percentage points over three months, relative to similar renters who did not experience an increase in the minimum wage. This represents 10.6% fewer monthly defaults. However, this effect slowly decreases over time as landlords react to wage increases by increasing rents.
> The common factor: the capital class screwing over the working class.
This thought terminating cliche is getting real old. What are your solutions? and what evidence do you have that those solutions will solve the problems? Shaking your fists at "the elites" and regurgitating populist slop is not going to
It's the opposite of a thought-terminating cliche. It refers to an entire world and body of work, which include solutions.
You could start by reading Marx, who laid a lot of the groundwork.
> Shaking your fists at "the elites" and regurgitating populist slop is not going to
I like the way you trailed off halfway through your knee-jerk reaction, underscoring just how much your response is an automated result of indoctrination.
> It's the opposite of a thought-terminating cliche
> You could start by reading Marx, who laid a lot of the groundwork.
Are you aware that you just responded with another? You did the "read theory" meme lol
> I like the way you trailed off halfway through your knee-jerk reaction, underscoring just how much your response is an automated result of indoctrination
so you don't have solutions or evidence is what I'm gathering? just another lefty populist spouting tired platitudes?
Are you saying that you blame apartment prices on landlords? If you build more apartments then market rent goes down and landlords can't charge more if people can just find cheaper apartments. It's not like landlords just choose whatever price they want - it's significantly bound by the demand.
I guess I'm just confused why your entire comment is about landlords and the super-wealthy when the article and message you are responding to don't mention either.
The line of thought that links super-wealthy people and wages is described in my first post. If you want to argue against it that’s fine, it isn’t a perfect link. But I’m not sure what to do with general confusion.
are you referring to NIMBY homeowners? because yes, people who own houses are the most likely to prevent more housing from being built (although not the only reason more housing isn't being built)
Landlords don't care. You put a 5/1 beside their slum and they're ecstatic because that means the land under their slum is now worth "build a 5/1 here" money.
it's a component but not central afaict. of course it's localized and depends on housing market concentration, major metros see a large share of units held by relatively few entities like Greystar.
The concept of land ownership is somewhat flawed (how can you "own" something that existed before you and will outlast you) and there's a finite amount of land available for various purposes, so for the benefit of humanity/civilisation it can make sense to ensure that land with certain properties is kept for the purpose of growing food or for hosting particular ecosystems (e.g. rivers).
Even if it's not agricultural land, there can be strategically important pieces of land that a country will insist cannot be sold to organisations that are opposed to the values of that country. However, in those cases, it might make more sense for the state to make compulsory purchases of that land.
The hyper-scaler rhetoric absolutely applies here. The proposed Utah data center project will use more energy than the entire state. Do we really need this? The heads of labs have been very clear that the explicit intention is to take away our jobs. We have a choice.
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