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Reminiscent of the Vibecession analysis done by Scott Alexander a few months ago: https://open.substack.com/pub/astralcodexten/p/vibecession-much-more-than-you-
by akurilin 3mo ago
Reminiscent of the Vibecession analysis done by Scott Alexander a few months ago: https://open.substack.com/pub/astralcodexten/p/vibecession-much-more-than-you-wanted https://open.substack.com/pub/astralcodexten/p/vibecession-m... - may be good supplemental reading
And of course the evergreen Housing Theory of Everything https://worksinprogress.co/issue/the-housing-theory-of-everything/ https://worksinprogress.co/issue/the-housing-theory-of-every...
- api 3mo agoHousing inflation cascades down into everything else too, since people require higher wages to afford housing... which drives up housing costs... which requires higher wages to afford housing... Basically real estate is the thirsty sponge that soaks up all the gains.