Another factor less mentioned in the media is the displacement of labor. Lots of people move around during the last 2 years, creating a geographical mismatch in demand and supply. I was at Truckee and there's a shortage of staff in the restaurants business (empty tables but can't be seated). Turns out they can't hire enough people because bay area people rushed to buy places in Truckee during the pandemic, forcing out the service industry people that's been renting.
Another factor less mentioned in the media is the displacement of labor. Lots of people move around during the last 2 years, creating a geographical mismatch in demand and supply. I was at Truckee and there's a shortage of staff in the restaurants business (empty tables but can't be seated). Turns out they can't hire enough people because bay area people rushed to buy places in Truckee during the pandemic, forcing out the service industry people that's been renting.