Re:Hundreds demonstrate against high rents in Zurich
by Kamq on Tuesday November 07, 2023 @08:48PM
(#38185727)
Under those conditions, I'd expect living in that city to be expensive, yes.
Which seems like a problem that would solve itself eventually. If people's quality of life gets too low, I'd expect a decent chunk of them to move, opening up housing for people who can't/won't move.
There's some downsides to that strategy, so the city may not want to go that route, but as someone in a low CoL area, I don't really have a say in the matter (nor should I, so long as people aren't asking me to subsidize high CoL areas).
And commuting has a cost too, driving an hour or two each way is expensive
Expensive housing is driving up the cost of everything because, everyone in literally every job is having their wealth extracted by landlords or into buying homes
So yes, home prices means taxes are going way up because all services are now far more expensive to provide because wages need to go up because the col for workers is going up because the businesses they rely on need to pay higher wages and here we are in a vicious cycle
It really doesn’t matter how it’s solved in the long run, but it needed a to be solved