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A comment on Labor shortage or terrible jobs?. Parent comment

Re:Labor shortage or terrible jobs? by robocat on Friday April 30, 2021 @06:56PM (#27000600)
Real estate prices and rent are driven by how much people can only just afford it.

If people earn more, they can afford a bigger mortgage, so house prices rise.

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Re:Labor shortage or terrible jobs? by Itsdijital on Saturday May 01, 2021 @02:28PM (#27008569)
Yeah, but the counter to all that is building new housing, which unsurprisingly very difficult in these areas.
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Re:Labor shortage or terrible jobs? by robocat on Saturday May 01, 2021 @05:13PM (#27009873)
> but the counter to all that is building new housing

I would like to see some stats on that meme.

Anecdotally, what I think happens is that people buying second homes, vacation homes, and more people living one person to a home. People without homes are not clearly advantaged.

I live in Christchurch New Zealand, with a truely massive increase in standalone houses, and significant densification in the city center. However house prices are still booming, and plenty of friends are struggling to find a first home.

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