pretty much all the arguing about careers and making a living is really due to cost of living which is due to this graph, and almost nothing else. The red area is housing that doesn't exist. It's what 2008 caused us not to build. Solve this and you solve everything. https://t.co/UwVq3Ir4Qc
The thing that makes tail events easy to underappreciate is how easy it is to underestimate how things compound. How, for example, 9/11 prompted the Federal Reserve to cut interest rates, which helped drive the housing bubble, which led to the financial crisis, which led to a poor jobs market, which led tens of millions to seek a college education,
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Rather than holding money, investors decide to buy things, such as real estate. Therefore, home prices, commercial real estate, and rental properties are surging in price. This is creating the problem for those living beneath median income. They have not shared in the wealth that has been created, at least not evenly,