Tuesday, May 03, 2022

The need to pay high housing costs keeps the work / consume / waste treadmill going.

Labor saving technologies could mean a shorter workweek. Less time at work would certainly help a lot of stretched and stressed people. One problem is that the increased efficiency of labor leads to more prosperity which leads to inflation in property values and the cost of living.

If one can afford the cost of living, in an area, it's not that much more to be able to afford other things; like airline travel and fancy electronics.

If one is paying thousands of dollars a month for a place to live, who wants to live like a church mouse? Might as well go a few steps farther and have these other things that are available at bargain prices; relative to the basics.

It is kind of like a treadmill. The more we produce, the more we consume, but part of the problem is that the fastest belt on the treadmill is the basic cost of rent, or first time home purchase. Another fast moving belt, that is considered a basic, is health insurance.

If one is keeping up with the treadmill, to begin with, it's almost stupid to not reward oneself with these other joys in life.

In my case, I did have affordable housing. I was fortunate to have landlords who rented, to me, below market. I spent much of my working years working part time so I did have the luxury of time. The belts on the treadmill were never going too fast for me. I didn't have a family either. I was able to enjoy the luxury of just having time.

My guess is, if people are less able to enjoy the luxury of time, they need something to enjoy. Few folks just want to run on a fast treadmill for nothing. Might as well book that jet flight or buy that big screen TV for just a little bit more.

Consumption is also pushed by business and advertising as the economy does need the jobs that consumption creates; so people can afford the cost of living.

No comments: