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Housing, we all know
(lemmy.world)
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this post was submitted on 29 Apr 2025
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How the hell are wages going to rise though. Everthing I see points to continued stagnation.
UNIONS
Unions are great and everyone should have one, but unfortunately there are some professions where unionisation is beyond the current imagination. Software engineers for example. They didn't need one historically because wages were higher than many other professions, but that has changed over time due to an over supply of professionals. Its the kind of profession that encourages individuals to compete against each other for salary increases. I see many people doing unpaid overtime, partly because the field attracts people who work compulsively for reasons of professional pride.
I take it the down vote is coming from someone misinterpreting my points. Lack of unionisation in many industries is partly due to the fact that they are very individualised in nature (individual works hard to distinguish themselves amongst their colleagues and get an individual pay rise). I don't know the best path forward to change this mindset, but we need to recognise it and talk about it.
The only way for wages to rise is through innovation. I have a R&D company. I can't see any other way
I see it as more of a demand and supply issues. I'm an engineer and all my unpaid overtime over the last few years never resulted in an adequate pay increase because too many qualified people want my job, despite the value it added the company, which leading the market in a competitive new technology. The bargaining power isn't there.
I see it as a supply and demand issue, too.
Supply of humans is so high that it has eroded bargaining power. Add in immigration and it is known that this has suppressed wage growth. Hence why I think in the 30s and beyond will be wild. The supply of humans will be reversed as global fertility trends continue. The WHO forecasted stat's on world population from 2050-2100, and beyond, shows a decrease. If this plays out houses are going to be cheap as chips through this period, and all the 'real estate empires' will lose their shirt.