On Twitter you made a comment about the decimation of skilled trades as a consequence of the Great Recession. It's as if the Fed decreed that carpenters, electricians, and plumbers were an obsolete category of the economy and deserving of decades long punishment for the supposed excesses of the "housing bubble."
What's most tragic is that despite the relatively good times of the past few years, many trades are aging out, exhausted, and permanently scarred by the generational destruction of the housing markets. And, in defiance of economic principles, their scarcity has not translated into the sustained wage growth that would attract new talent---combined with immigration policies that discourage participation and expansion of talent. The housing supply deficit may be permanent---or at best a two decade phenomenon---because of the comprehensive labor shortage.
On Twitter you made a comment about the decimation of skilled trades as a consequence of the Great Recession. It's as if the Fed decreed that carpenters, electricians, and plumbers were an obsolete category of the economy and deserving of decades long punishment for the supposed excesses of the "housing bubble."
What's most tragic is that despite the relatively good times of the past few years, many trades are aging out, exhausted, and permanently scarred by the generational destruction of the housing markets. And, in defiance of economic principles, their scarcity has not translated into the sustained wage growth that would attract new talent---combined with immigration policies that discourage participation and expansion of talent. The housing supply deficit may be permanent---or at best a two decade phenomenon---because of the comprehensive labor shortage.
Rant over. Keep up the good work Kevin.