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by droro
2003 days ago
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This makes a lot of sense if you consider that increasing the supply of money is not enough to cause inflation on its own- there also has to be scarcity.
Healthcare is scarce because it is tied to the availability of highly skilled labor and has seen significant cost increases in recent years as a result.
Housing has been scarce because the amount of land near job opportunities has decreased as our economy has become more service-oriented.
And this brings me to the one big item that was missing from the list in the OP: the pandemic has eased the housing crisis by encouraging everyone to spread out. The exodus of upper and middle class people moving into smaller cities and towns will bring more opportunities for service jobs to places with lower construction costs and a higher availability of land. The only question is whether the drawbacks of telecommuting are big enough to push everyone back into offices in a few years, reversing the trend. |
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AFAIK there were a few weeks in the first wave of the pandemic where people fled the city and landlords would face sudden issues to fill their apartments but this time is over. Speaking from anecdotes by friends trying to get apartments in the big cities thoughout Europe it has not gotten easier at all.