I’ve read several articles the past few days that give me pause. The rise of housing prices is the center. And the fact they’re outpacing wage growth deeply concerns me.
There’s a significant population who’s losing their ability to afford basic subsistence in this region I love. Many friends of mine, who’ve lived here their whole lives, and some for generations, who are getting priced out.
I know the many see very few basic entitlements: life, liberty, and perpetual servitude.
In seriousness, I wonder what we can do. Market forces are hard to resist. We’ve tried things like rent control and minimum wage increases, to varying degrees of success. Our ability to game the system are limited. We tend to end up with unintended consequences countering our efforts.
I firmly believe there are solutions out there which will provide stability for the less highly compensated, without spiking home price inflation somewhere else.
I work to not be a cynical free market catalyst. Tis often a challenge. I shall grab a hold of hope and embrace optimism.