When food, electricity, and housing becomes the majority of a person's expenses, that doesn’t leave much for spending into the economy. People need disposable income to shop, go to restaurants, and invest. Instead, they get what they need and simply can’t afford anymore. As a result, the economy slows down. This is why the government needs to create stimulus packages and the central banks print money. They need to fill in the gap, or a recession will occur.
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Sources Used in This Video:
https://goo.gl/UpprQe
Major apartment developer: 'There is an acute crisis headed our way'
https://www.cnbc.com/2018/02/16/major-apartment-developer-there-is-an-acute-crisis-headed-our-way.html?__source=sharebar|email&par=sharebar
05_harvard_jchs_americas_rental_housing_2017.pdf
http://www.jchs.harvard.edu/sites/jchs.harvard.edu/files/05_harvard_jchs_americas_rental_housing_2017.pdf
Median Asking Rent.jpg (878×558)
Homeownership Rate Q3.jpg (938×568)
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