the overwhelming reason why the rent is so d*mn high is because of artificially constrained land supply and the unregulated greed of landlords and speculators.
Well, you could say that it is because of the housing bubble, which the authorities have been determined for decades to stop from popping. Landlords overpaid for housing, and they should have taken their losses in 2008, but governments around the world just hid the problem, pretending that they would bail everyone out, but omitting to clarify to everyone that their only source of bail-out wealth is from us. We need honesty in economic policy – stop the inflation which is caused by people making promises which they can’t keep. The way to stop it is actually to put up interest rates, which would stop people from rolling over their impossible debts.
Well, you could say that it is because of the housing bubble, which the authorities have been determined for decades to stop from popping. Landlords overpaid for housing, and they should have taken their losses in 2008, but governments around the world just hid the problem, pretending that they would bail everyone out, but omitting to clarify to everyone that their only source of bail-out wealth is from us. We need honesty in economic policy – stop the inflation which is caused by people making promises which they can’t keep. The way to stop it is actually to put up interest rates, which would stop people from rolling over their impossible debts.