Most fast food workers in California would get a $20 minimum wage next year — a nearly $5 per hour raise — under a deal announced Monday between labor unions and the industry that will avoid a costly referendum on the November 2024 ballot.
They’re raising rent because corporations with massive cash piles are buying up housing and raising the rent dial. Because there’s little downward pressure on house prices (cheap gov housing targeted at first time buyers, vacancy taxes, bans on short term rentals, grants for housing sold below market value, etc), there’s little incentive to turn the dial the other way.
There are definitely exceptions, but they’re just that: exceptions.
Overall, most things are priced according to what people are willing and able to pay. Apartment rent in this case is not an exception. As soon as people can pay more, landlords will charge more.
It’s sad this needs to be spelled out for you, but that’s probably why you’re bad with money.
Do everyone a favor and look up inelastic demand before dying on this hill. Rent is a necessity, people need to pay for it. It’s price is not as directly correlated to supply and demand as the price of luxury goods for example.
It’s sad this needs to be spelled out for you, but that’s probably why you’re bad with money.
Nice trolling, I won’t respond to this. Be better.
“No I REFUSE to educate myself!” he said while repeatedly demonstrating he has no clue what he’s talking about. People like you should just vanish. You’re the problem and you’re too stupid to acknowledge it.
The real world doesn’t work according to basic economics, as basic economics generally assumes best case scenarios to dumb it down for the average person.
They’re raising rent because corporations with massive cash piles are buying up housing and raising the rent dial. Because there’s little downward pressure on house prices (cheap gov housing targeted at first time buyers, vacancy taxes, bans on short term rentals, grants for housing sold below market value, etc), there’s little incentive to turn the dial the other way.
Sigh.
I’m done spelling this out for ya’ll.
Keep thinking prices aren’t based around what people are willing and able to pay.
Sigh.
Your econ 101 understanding of markets will never encapsulate the complexity of the modern housing market.
Keep thinking prices are only based around what people are willing and able to pay.
Lol. Okay.
There are definitely exceptions, but they’re just that: exceptions.
Overall, most things are priced according to what people are willing and able to pay. Apartment rent in this case is not an exception. As soon as people can pay more, landlords will charge more.
It’s sad this needs to be spelled out for you, but that’s probably why you’re bad with money.
Do everyone a favor and look up inelastic demand before dying on this hill. Rent is a necessity, people need to pay for it. It’s price is not as directly correlated to supply and demand as the price of luxury goods for example.
Nice trolling, I won’t respond to this. Be better.
Oh boy, now he’s telling me to look things up.
Lol. I’m not going to go down your rabbit holes. What I’ve said is common knowledge and basic economics.
The fact you can’t understand that is a testament to why I won’t take you seriously.
I wholeheartedly believe people like you are just doing mental gymnastics to agree with the crowd because you can’t think for yourself.
Sorry.
“No I REFUSE to educate myself!” he said while repeatedly demonstrating he has no clue what he’s talking about. People like you should just vanish. You’re the problem and you’re too stupid to acknowledge it.
That’s your whole problem.
BASIC economics
The real world doesn’t work according to basic economics, as basic economics generally assumes best case scenarios to dumb it down for the average person.