4 ms·

Go for it. Econ 100 textbook bs about supply and demand are trivially dismissed by a casual examination of housing and rental prices in the US in gentrified are

Go for it. Econ 100 textbook bs about supply and demand are trivially dismissed by a casual examination of housing and rental prices in the US in gentrified areas. What happens when the real world intrudes on academic platitudes is rather straightforward: pricing for everything goes up and the folks who were struggling get pushed out. Nobody who couldn't afford housing in the market before the shift is served.

refulgentis 2y ago
I'm more than open to reading anything about that! Literally anything! Most respectfully and deferentially, I don't think "more things available makes price goes down" is a platitude or textbook or academic thing! I must confess, the fact this Fat Tony logic and not some theory invented in an academic textbook ivory-tower divorced-from-reality impoverished-intellectual safe haven is why I cannot provide a proof: the note about the margin was an attempt to inject some levity, via a reference to Fermat!
- forgetfreeman 2y ago
  > I'm more than open to reading anything about that! Literally anything! Great! Start paying attention to real estate and rental prices in areas near "mixed use" development projects and urban multi-story housing construction, literally the projects that are billed by politicians as addressing housing shortages and you'll find my point bore out pretty plainly. > I don't think "more things available makes price goes down" is a platitude or textbook or academic thing! It isn't in the context of bulk commodities and raw inputs where producers compete solely on volume. Housing is not a volume market and no incentives exist for developers or property owners to make it one. See also: RealPage sued for enabling market collusion in residential rental rates: https://www.politico.com/news/2024/08/23/feds-sue-software-company-rent-collusion-00176154 https://www.politico.com/news/2024/08/23/feds-sue-software-c...
  - refulgentis 2y ago
    Ah okay, you made it up :)
    - forgetfreeman 2y ago
      Uh no, I'm watching it play out in realtime in local real estate markets. It's fucking with my retirement plans.
      - refulgentis 2y ago
        I hate to be rude, but, whether or not your retirement plan is going to plan has nothing to do with whether more housing makes prices go up. I'm honestly kinda upset you didn't have anything backing up that idea. I genuinely expect better from HN, and genuinely believed that maybe I had missed something at 35, after an econ degree before promoting getting into programming. I wouldn't have given the benefit of the doubt on any other site, and certainly not if you weren't as well spoken as you are. I can't believe you're throwing out RealPage intros after sneering at me about entry level econ. Buddy I knew RealPage, intimately, years ago and nothing in the story has anything to say about prices always go up. In fact, the existence of the story requires the opposite
        forgetfreeman 2y ago
        You're arguing from a point of something you read. I'm arguing from a point of a market that I'm heavily invested in and monitoring daily. Get back to me when you've got a couple mil parked in residential real estate in a market where the kinds of development projects you're trying to provide cover for have been commonplace for a decade. I'll wait. Spoiler: you're going to find that both rents and purchase price both skyrocket.

refulgentis 2y ago

I'm more than open to reading anything about that! Literally anything! Most respectfully and deferentially, I don't think "more things available makes price goes down" is a platitude or textbook or academic thing! I must confess, the fact this Fat Tony logic and not some theory invented in an academic textbook ivory-tower divorced-from-reality impoverished-intellectual safe haven is why I cannot provide a proof: the note about the margin was an attempt to inject some levity, via a reference to Fermat!

forgetfreeman 2y ago
> I'm more than open to reading anything about that! Literally anything! Great! Start paying attention to real estate and rental prices in areas near "mixed use" development projects and urban multi-story housing construction, literally the projects that are billed by politicians as addressing housing shortages and you'll find my point bore out pretty plainly. > I don't think "more things available makes price goes down" is a platitude or textbook or academic thing! It isn't in the context of bulk commodities and raw inputs where producers compete solely on volume. Housing is not a volume market and no incentives exist for developers or property owners to make it one. See also: RealPage sued for enabling market collusion in residential rental rates: https://www.politico.com/news/2024/08/23/feds-sue-software-company-rent-collusion-00176154 https://www.politico.com/news/2024/08/23/feds-sue-software-c...
- refulgentis 2y ago
  Ah okay, you made it up :)
  - forgetfreeman 2y ago
    Uh no, I'm watching it play out in realtime in local real estate markets. It's fucking with my retirement plans.
    - refulgentis 2y ago
      I hate to be rude, but, whether or not your retirement plan is going to plan has nothing to do with whether more housing makes prices go up. I'm honestly kinda upset you didn't have anything backing up that idea. I genuinely expect better from HN, and genuinely believed that maybe I had missed something at 35, after an econ degree before promoting getting into programming. I wouldn't have given the benefit of the doubt on any other site, and certainly not if you weren't as well spoken as you are. I can't believe you're throwing out RealPage intros after sneering at me about entry level econ. Buddy I knew RealPage, intimately, years ago and nothing in the story has anything to say about prices always go up. In fact, the existence of the story requires the opposite
      - forgetfreeman 2y ago
        You're arguing from a point of something you read. I'm arguing from a point of a market that I'm heavily invested in and monitoring daily. Get back to me when you've got a couple mil parked in residential real estate in a market where the kinds of development projects you're trying to provide cover for have been commonplace for a decade. I'll wait. Spoiler: you're going to find that both rents and purchase price both skyrocket.