3 ms·
Right on -- we need more supply and local activism seems to be the only way to make that happen. NIMBYism cuts supply because existing homes are worth more whe
by vm 9y ago
Right on -- we need more supply and local activism seems to be the only way to make that happen.
NIMBYism cuts supply because existing homes are worth more when there are fewer new homes available. Any economically rational homeowner would want that (even though it sucks for everyone else).
Demand is high because people have gotten rich! Google and Facebook stock prices have increased over 2x in nearly 2 years. That probably made a $1M+ for a few THOUSAND people. Then extrapolate all the other big exits or stock growth in time period... unreal wealth creation for many people. Demand isn't going anywhere. It's a supply issue.