Scott Alexander

The median rent of a person who moves to the city.

I believe that the second one has absolutely skyrocketed in the last 20 years in all major German and Swiss cities, while the first one has only moderately increased.

The reason is that rents are sticky.

People who have lived in the same flat for 20 years have seen limited increase of their rents, whereas rates for new tenants have increased dramatically.

If you look into official statistics, as Scott did, they will probably measure 1 and see a moderate increase.

But for young people, 2 is much more relevant.

That's the median rent of a person who moves to the city.

Scott writes, David Levy writes, quote,

Has Kevin Erdmann decisively figured out why we seem to be in perpetual vibe session, where people feel much worse off economically than the usual numbers, real wages, household incomes and consumption etc.

would justify?

A situation with major political implications, in that every administration successfully finds itself disappointing its supporters, who believed promises of falling costs of living and rising prosperity.

He argues in a new paper for the MacArthur Centre, we are not as wealthy as we thought we were.

that a large portion of the wealth of US households, which is found in the value of their homes, is in fact not real wealth, but a result of being trapped in rising cost accommodations in a housing-poor society.

Here is the abstract.

End quote.

Scott writes, This is interesting, but I don't think it affects most of our measures of vibe session, which aren't looking at real estate wealth.

Aristides writes, quote, quote,

But six extra years of rentals makes this a bad decade for me, even if my income increased by 50% over this time.

End quote.

Scott writes, question for Aristides and others, why is renting so associated with apartments, for example your child can't have a yard, and buying so associated with houses?