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The worlds population has doubled since 1974. In every country listed the rate of new building construction has stayed roughly constant or declined since then.
by FuckButtons 2y ago
The worlds population has doubled since 1974. In every country listed the rate of new building construction has stayed roughly constant or declined since then. You can explain this phenomenon with an Econ 101 supply and demand curve without need for any further elaboration.
- AlexandrB 2y agoThat's contradicted by the provided OECD link that shows that in many countries the housing stock per capita has stayed the same or slightly increased since 2011. Yet prices continue to increase.
- ImJamal 2y agoAre the houses equal though? If houses 20 years ago averaged 1500 square feet and 10 years ago averaged 2000 square feet it would increase the price even if they stock increased.
- lotsofpulp 2y agoBut people per household has plummeted. Going from 6 to 4 to 2, see page 9. Combined with population pyramid flattening out, that is a lot of increase in demand for housing, until the population pyramid is upside down and more people are dying rather than being added to demand for housing. https://genus.springeropen.com/counter/pdf/10.1186/s41118-024-00211-6.pdf https://genus.springeropen.com/counter/pdf/10.1186/s41118-02...