My husband and I have decided to bite the bullet, and move our family of 4 in with my parents in May when our renting lease is up.
But Noah Smith swears up and down all is good, rent is fine as it is — when anyone with a fucking clue knows that rent is absurdly high and unbearable for many families and is only getting worse.
When I first started looking at rental prices in the late 1990s, a person working an ok job could get a two-bedroom apartment in most cities (outside of NYC and SF) and be fine. Now that is true nowhere in the entire country. Don’t tell me apartments have just gotten so huuuuuuge (hedonic adjustments) and have so many extra features that they are so much better that they should cost 3x as much in real dollars than they did 25 years ago.
Because that’s a fuckin’ lie and we all know it.
Anyway, it’s not like you can travel back in time and rent those supposed “worse” apartment for the 1998 price. Why do economists think so damn poorly?