3 ms·
If that were true, you'd expect suburban houses to be more expensive than those in the city, but in reality it is generally the opposite. Here in Seattle, we wa
by marssaxman 3y ago
If that were true, you'd expect suburban houses to be more expensive than those in the city, but in reality it is generally the opposite. Here in Seattle, we watch the urban population grow in lockstep with the availability of new housing, year after year, while the cost of that housing continues to rise - much faster than the general rate of inflation. Simple economics suggests that city life must be very desirable, and that the urban population would be growing even faster if more housing were being built: therefore, some fraction of those people who end up in the suburbs are moving there not because it is their preference, but because wealthier people have outbid them for the more desirable city life. This is what people mean when they complain about gentrification.
You cannot be sure Americans actually want to live in suburbs when that is all that most of them have to choose from, and that is the case because American zoning codes adopted in the mid 20th century made it difficult to build much of anything else. Car dependency was created, by law; do not mistake it for revealed preference.
- deleted 3y ago[deleted]