7 ms·

No.

jbruton 2y ago
Betteridges Law in action. https://en.m.wikipedia.org/wiki/Betteridge%27s_law_of_headlines https://en.m.wikipedia.org/wiki/Betteridge%27s_law_of_headli...
gruez 2y ago
They're probably responsible for a non-zero proportion of the price increase, but the bulk is driven by supply and demand.
- beaeglebeachedd 2y ago
  And the people have themselves to blame for voting for zoning, code, and construction regulation that price housing into oblivion. Right now renting is even cheaper than owning!
  - mirzap 2y ago
    People who buy property want to protect it and increase its value, so they have every incentive to vote for and support zoning and construction regulations. This is similar to immigration. People who immigrated earlier are the most vocal supporters of stricter immigration rules for future immigrants because they are afraid that a fresh influx of immigrants will reduce their competitiveness.
    - beaeglebeachedd 2y ago
      Such regulation is rampant and as bad or worse in places like San Francisco and NYC where most are renters.
    - lenkite 2y ago
      > People who immigrated earlier are the most vocal supporters of stricter immigration rules for future immigrants small correction. People who legally immigrated earlier are the most vocal supporters of stricter immigration rules for future illegal immigrants.
      - mirzap 2y ago
        The rules are meant to prevent or make it more difficult for people to immigrate legally. Every additional rule only complicates legal immigration. How did people immigrate in 1900? They simply showed up at the border and signed in, and that was it. It was simple and legal, and there was no illegal immigration. And those first immigrants started adding rule by rule to prevent other people from coming. With each new rule, it has become increasingly challenging for people to immigrate legally, leading them to find alternative ways.
        lenkite 2y ago
        Obviously, we should talk about the period after 1875 when the Supreme Court declared regulation of immigration a federal responsibility. There is little point to talking about a time when the known population of the U.S. was less than 5 million. Lets talk about the 20-21rst century. Social Security Program was created in 1935. Medicaid was established in 1965. Non-citizens became eligible for social security in 1996. Why talk about ancient history when there was little to no burden in citizenship ?
        _DeadFred_ 2y ago
        Something like 1/3 of immigrants to the USA in the first part of the 1900s ended up returning to their home countries. It was a much different landscape and situation back then.
      - seanmcdirmid 2y ago
        immigration rules only apply to legal immigrants. So stricter immigration rules is more of a "screw you got mine" kind of thing, illegal immigrants would only be affected by border enforcement and job availability once they got in (which is crazily easy in the USA vs. a country like Canada).
        lenkite 2y ago
        > immigration rules only apply to legal immigrants. No, this is clearly false. Rules apply to illegal immigrants too - those who just crossed the border without approval or prior paperwork. Those rules are rather lax and are not enforced as can be seen in the current administration and "sanctuary" states - who simply ignore the rules.
    - Ferret7446 2y ago
      > People who buy property want to protect it and increase its value They do this because they need investments, and all other forms of investment are less appealing due to regulation/risk. They need investments due to the misguided economic cargo culting that inflation is necessary, to promote investment. So the people invest. In property. You can see this magnified in China where traditional types of investments are unavailable, so the property bubble is constantly growing as it is constantly bursting. People follow the incentives, and not just the incentives set by the government, but the incentives of reality. If you drop a boulder, the river doesn't just stop; the river flows around it.
- m463 2y ago
  If supply < $n/month is zero, what can you do? doesn't it just anchor prices at $n?
  - aetherson 2y ago
    A perfect cartel does indeed increase prices to the level of the cartel's minimum. But the greater the price difference is between the natural price and the cartel minimum price, the greater the incentive is to break the cartel.

No.

Betteridges Law in action. https://en.m.wikipedia.org/wiki/Betteridge%27s_law_of_headlines https://en.m.wikipedia.org/wiki/Betteridge%27s_law_of_headli...

gruez 2y ago

They're probably responsible for a non-zero proportion of the price increase, but the bulk is driven by supply and demand.

beaeglebeachedd 2y ago
And the people have themselves to blame for voting for zoning, code, and construction regulation that price housing into oblivion. Right now renting is even cheaper than owning!
- mirzap 2y ago
  People who buy property want to protect it and increase its value, so they have every incentive to vote for and support zoning and construction regulations. This is similar to immigration. People who immigrated earlier are the most vocal supporters of stricter immigration rules for future immigrants because they are afraid that a fresh influx of immigrants will reduce their competitiveness.
  - beaeglebeachedd 2y ago
    Such regulation is rampant and as bad or worse in places like San Francisco and NYC where most are renters.
  - lenkite 2y ago
    > People who immigrated earlier are the most vocal supporters of stricter immigration rules for future immigrants small correction. People who legally immigrated earlier are the most vocal supporters of stricter immigration rules for future illegal immigrants.
    - mirzap 2y ago
      The rules are meant to prevent or make it more difficult for people to immigrate legally. Every additional rule only complicates legal immigration. How did people immigrate in 1900? They simply showed up at the border and signed in, and that was it. It was simple and legal, and there was no illegal immigration. And those first immigrants started adding rule by rule to prevent other people from coming. With each new rule, it has become increasingly challenging for people to immigrate legally, leading them to find alternative ways.
      - lenkite 2y ago
        Obviously, we should talk about the period after 1875 when the Supreme Court declared regulation of immigration a federal responsibility. There is little point to talking about a time when the known population of the U.S. was less than 5 million. Lets talk about the 20-21rst century. Social Security Program was created in 1935. Medicaid was established in 1965. Non-citizens became eligible for social security in 1996. Why talk about ancient history when there was little to no burden in citizenship ?
        _DeadFred_ 2y ago
        Something like 1/3 of immigrants to the USA in the first part of the 1900s ended up returning to their home countries. It was a much different landscape and situation back then.
    - seanmcdirmid 2y ago
      immigration rules only apply to legal immigrants. So stricter immigration rules is more of a "screw you got mine" kind of thing, illegal immigrants would only be affected by border enforcement and job availability once they got in (which is crazily easy in the USA vs. a country like Canada).
      - lenkite 2y ago
        > immigration rules only apply to legal immigrants. No, this is clearly false. Rules apply to illegal immigrants too - those who just crossed the border without approval or prior paperwork. Those rules are rather lax and are not enforced as can be seen in the current administration and "sanctuary" states - who simply ignore the rules.
  - Ferret7446 2y ago
    > People who buy property want to protect it and increase its value They do this because they need investments, and all other forms of investment are less appealing due to regulation/risk. They need investments due to the misguided economic cargo culting that inflation is necessary, to promote investment. So the people invest. In property. You can see this magnified in China where traditional types of investments are unavailable, so the property bubble is constantly growing as it is constantly bursting. People follow the incentives, and not just the incentives set by the government, but the incentives of reality. If you drop a boulder, the river doesn't just stop; the river flows around it.
m463 2y ago
If supply < $n/month is zero, what can you do? doesn't it just anchor prices at $n?
- aetherson 2y ago
  A perfect cartel does indeed increase prices to the level of the cartel's minimum. But the greater the price difference is between the natural price and the cartel minimum price, the greater the incentive is to break the cartel.