Re:Why America has so few carpenters
by ch4s3 on Tuesday May 24, 2022 @01:47PM
(#31495250)
> That's not a shortage.
That's literally the definition of a shortage[1], "a condition where the quantity demanded is greater than the quantity supplied at the market price".
> But that's not a shortage. Just because you can't afford something at the market clearing price doesn't mean there's a shortage. And just because you can't afford something at the market clearing price doesn't necessarily mean the government needs to make changes. You might need to make changes instead.
In the case of housing, the government creates the condition whereby there is not enough housing in places where there is the most economic activity. It's a huge drag on the overall economy and well documented.
That's literally the definition of a shortage[1], "a condition where the quantity demanded is greater than the quantity supplied at the market price".
> But that's not a shortage. Just because you can't afford something at the market clearing price doesn't mean there's a shortage. And just because you can't afford something at the market clearing price doesn't necessarily mean the government needs to make changes. You might need to make changes instead.
In the case of housing, the government creates the condition whereby there is not enough housing in places where there is the most economic activity. It's a huge drag on the overall economy and well documented.
[1]https://www.investopedia.com/terms/s/shortage.asp