EUPHEMISM WATCH....We need more euphemisms, and I really like this one: "portfolio diversification in your income."
Need an explanation? Here it is:
Middle-class city dwellers across the country are being squeezed....In New York, the supply of apartments considered affordable to households with incomes like those earned by starting firefighters or police officers plunged by a whopping 205,000 in just three years.
....Firefighters who want to live in high-priced cities can work two jobs, said W. Michael Cox, chief economist for the Federal Reserve Bank of Dallas. “I think it’s great,” he said. “It gives you portfolio diversification in your income.”
Yep, it means working two jobs because housing costs are too high. Brilliant.
Via Hilzoy.
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