Matthew Yglesias

@mattyglesias ↗

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Last Checked Feb. 10, 2023

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Tue Feb 07 11:30:34 +0000 2023

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Matthew Yglesias @mattyglesias

And post-pandemic we have in fact seen a boom in early retirements, specifically a boom that’s most concentrated in the places where the housing price boom was most explosive. https://t.co/Atn5O86Kh3 https://t.co/AyFE9uxrbv — PolitiTweet.org

Posted Feb. 7, 2023

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Matthew Yglesias @mattyglesias

So what’s that got to do with labor force participation? Well, the demand boom led to a price boom led to a financial windfall for established homeowners — and we know from prior history that when older people get a wealth windfall they retire early. https://t.co/Atn5O86Kh3 https://t.co/33fCUiN4UQ — PolitiTweet.org

Posted Feb. 7, 2023

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Matthew Yglesias @mattyglesias

None of this is bad per se. Remote work should have long-term benefits. If people get richer and want to retire or semi-retire early that’s nice for them. But it’s creating an inflationary double-whammy as rents spiked and labor supply unexpectedly shrunk. — PolitiTweet.org

Posted Feb. 7, 2023