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No, it is why 60% of Americans live in single family detached homes, not including the additional 10% who live in manufactured homes or single family attached.
by onecommentman 2y ago
No, it is why 60% of Americans live in single family detached homes, not including the additional 10% who live in manufactured homes or single family attached. Not factoring in latent demand, or those who are in high-density living for reasons beyond their control, e.g. assisted living, college dorms, military, that should be excluded from the calculations.
San Francisco 2024 growth rate is minus 2.4 percent. NYC 2024 growth rate minus 2.0. Boston minus 1.0 percent. High rent is more likely the result of NYC, SF and Boston renters being on the bleeding edge of rent setting software. Lucky them.
- pc86 2y agoI would think any one of NIMBY incumbents, rent control, and (CA-specific, obv) Prop 13/19 would individually do a lot more to artificially pump up rent prices than rent setting software.
- s1artibartfast 2y agoProp 13 drives down prices the same way mortgage interest drive down sales prices. low tax on homes purchased 30 years ago means higher taxes on new purchases. New home buyers usually care about their monthly payment. high mortgage rates mean they can afford lower sales prices. High tax rates mean they can afford lower sales prices.