Landlords [sic] Are Going to Take Away All Your Wage Gains

Source: In These Times
by Hamilton Nolan

“Economic crises can happen fast. So can the printing of government stimulus checks to counteract those crises. But building large quantities of housing (to say nothing of affordable housing) is a slow process, beset on all sides by angry neighbors, predatory developers and a general lack of political will. … The good news is that wages are going up. The bad news is, you’ll have to give them all back to your landlord. Trillions of dollars have been pumped into the economy to save us from disaster. That was the correct and, indeed, only move in the face of the Covid-19 crisis. But the boom that stimulus is fueling is being hobbled by the same mistakes that our society made for years before the pandemic.” [editor’s note: Conflating “landlord” with “rent seeker” confuses legit property owners with crony corpers – SAT] (07/13/21)