Earlier quoted context omitted.
High housing prices aren't the result of stagnant wages and rising wages will only cause housing to become more expensive (more money chasing the same housing stock) unless something is done to boost supply. Unions don't fix this, they might make it worse on the margins. Unionization is a mixed bag. The UAW has been in the news recently for a seemingly never ending parade of union leaders being sent to jail for corru…
How many empty houses are there in the US, millions? How many luxury condos are being built and sit unoccupied? It seems like people always come out of the woodwork to explain how rising wages aren’t helpful and are solution must always seem to involve paying for more things (this cases houses).
About 16M units unoccupied [1].
> How many luxury condos are being built
Quite a few! New construction is almost always targeted at the high-end, which has been true throughout history. Low-end housing, outside specific government projects, tend to be the high-end housing of the past
> and sit unoccupied?
Very, very few. The idea of luxury housing being built only to sit empty for some unspecified "investment" reason has been a persistent myth that has never been backed up by data.