Sunderji's Paradox

Why rising incomes never seem to make rent more affordable

I usually paywall Friday posts, but this article is for everyone. Please consider supporting my work for $8/month.

Easterlin’s paradox: the rich are happier than the poor, but as countries get richer, they don’t get happier. I want to propose an analogous paradox for housing—Sunderji’s paradox: the rich spend a smaller share of their income on rent than …