Labour Market Performance
In both large metropolitan areas and regional towns where housing prices are high, a lack of affordable housing places local firms at a competitive disadvantage. They are placed under wage pressures as they attempt to decrease the income/housing price gap. Key workers have fewer housing choices if prices rise to non-affordable levels. Variations in affordability of housing between areas may create labour market impediments.
Potential workers are discouraged from moving to employment in areas of low affordability. They are also discouraged from migrating to areas of high affordability as the low house prices and rents indicate low capital gain potential and poor employment prospects.
Read more about this topic: Affordable Housing
Famous quotes containing the words labour, market and/or performance:
“The days of our years are threescore years and ten; and if by reason of strength they be fourscore years, yet is their strength labour and sorrow; for it is soon cut off, and we fly away.”
—Bible: Hebrew Psalms 90:10.
The Book of Common Prayer (1662)
“Have you not heard of that madman who lit a lantern in the bright morning hours, ran to the market place, and cried incessantly: “I seek God! I seek God!””
—Friedrich Nietzsche (1844–1900)
“O world, world! thus is the poor agent despised. O traitors and bawds, how earnestly are you set a-work, and how ill requited! Why should our endeavour be so loved, and the performance so loathed?”
—William Shakespeare (1564–1616)