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There are housing price crises literally all over the world, even in places where restrictive city policies are not an issue. I'm sure supply constraints make
by andrepd 4y ago
There are housing price crises literally all over the world, even in places where restrictive city policies are not an issue.
I'm sure supply constraints make it worse, but the underlying problem is financial in nature: because of making housing a financial asset.
- davidw 4y agoThe housing crisis is far worse in places where artificial constraints make it so. In general, the financial side of things drives the constraints, rather than the other way around. If I view my house as an investment, it's in my interest to see a constrained supply so that the value of my house goes up, up, up.
- erik_seaberg 4y agoWhere is there a housing crisis with no restrictions on construction, and how much construction has been happening there relative to population growth? Compared to the Bay Area, there are many, many places with vacancies at 80% (Weed, CA) to 99% (Detroit) lower prices. The problem is that everyone wants to live in a few good employment markets with local housing shortages imposed by zoning.
- Spivak 4y agoPeople want to live where industry is? Woah there. If you call that a problem then there will never be a solution for the rest of forever. Any sane housing policy has to take this into account not pretend it’s the laborer’s fault. If you want people to move to different places then you have to get some businesses to start or move there until you get natural momentum.