I'm claiming the opposite. Wage increases yield rent increases. Evidence: Where is rent high? Whoa! Right there were wages are high.
What happens when you add a high-paying employer to a region (e.g. Amazon HQ2)? Whoa! Rent goes up and prices the people who live there out.
Obviously the reverse is not true. Increasing rent would not make more capital available for wages, it just puts enterprise out of business and individuals out of their homes.
What happens when you add a high-paying employer to a region (e.g. Amazon HQ2)? Whoa! Rent goes up and prices the people who live there out.
Obviously the reverse is not true. Increasing rent would not make more capital available for wages, it just puts enterprise out of business and individuals out of their homes.