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From the post: > Now, there’s no question that a few specific cities have seen big rises. The Bay Area is obviously one, Denver is one, and Seattle is another—
by curtis 7y ago
From the post:
> Now, there’s no question that a few specific cities have seen big rises. The Bay Area is obviously one, Denver is one, and Seattle is another—though the market has responded recently in Seattle and housing development is now increasing. But if you look at big cities more broadly, there’s not even a generalized urban rent crisis.
The author's contention isn't simply that there's no housing crisis in places like Eastern Oregon, but rather that there's no housing crisis anywhere outside of a few major cities. He's also got a bunch of numbers to back up the assertion.
Now I'm inclined to think Drum's staked out a position that is too extreme in one direction (I live in one of those major cities!) but I feel like your position is too far in the other direction. I think we want to accurately characterize the problems we're trying to solve. Here in Seattle, housing supply is a big issue. But back in my hometown of Tulsa, I suspect housing is pretty cheap, and the problem is more likely a lack of good jobs.
- jadel 7y agoWhat the article largely says is that there isn't really a housing crisis if people make more money and pay more rent. Is it realistic to pay hundreds of dollars per month in rent when Microsoft pays hundreds of thousands of dollars per year in Seattle? Not from a market perspective. People paying what they can afford isn't really a housing crisis. That is essentially the market working, pricing valuable things highly. It might certainly be some other crisis however, like society favouring property over work.