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by barry-cotter
1431 days ago
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Rent as a percentage of income is remarkably steady historically because it’s always as high as the market will bear. That’s the rationale behind Georgist Land Value Taxes. You can pay it to the government and the landowner or the landowner, the amount of rent will be the same. Food has gotten cheaper as well as tastier and higher quality over time. The proportion of income spent on food has been dropping for well over 100 years. |
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https://www.realestatewitch.com/rent-to-income-ratio-2022/
and
https://www.federalreserve.gov/econres/notes/feds-notes/diff...
and
https://www.theatlantic.com/business/archive/2012/04/how-ame...
So, depends on what you mean by steady. ~3%-ish growth (at the worst) in my book is not steady.
But yea, totally less expensive and wider availability of high quality food is great to be reminded of, thanks!