My landlord is offering me a 12% rent increase to renew. A laughable deal and I will be moving, I expect.
Why? Margins are thin and increasing revenue is virtually impossible in the short term.
Unlike a government, I have the advantage of just choosing a cheaper apartment. If markets are efficient and I need to accept a lower standard of living, I can take that.
What politician gets re-elected after choosing a lower standard of living, no matter how justified? Doesn’t work in Greece.
Consider the news today. Revenue isn’t going up on its own any time soon and we can’t all just move to a cheaper apartment.