Tail wagging the dog. High productivity areas cause higher housing costs – just like in London.
The Bay Area example doesn’t explain why lowering housing costs wouldn’t increase productivity—it just shows that low housing costs isn’t a necessary condition for it.
Tail wagging the dog. High productivity areas cause higher housing costs – just like in London.
The Bay Area example doesn’t explain why lowering housing costs wouldn’t increase productivity—it just shows that low housing costs isn’t a necessary condition for it.