Re:Inflation and the housing question
by randbox on Monday March 21, 2022 @06:32PM
(#30760610)
The fraction of average income paid to landlords is partially due to the concentration of land ownership and political culture of the ownership class.
Historically in 18th century rents were 1/3 of farm product in England, 1/2 of product in Milan, up to 3/4 product in China. Citizens in countries with low rents developed wealth quicker and in countries with high rents were quite poor.
Historically in 18th century rents were 1/3 of farm product in England, 1/2 of product in Milan, up to 3/4 product in China. Citizens in countries with low rents developed wealth quicker and in countries with high rents were quite poor.