4 ms·

It hasn't, really. Austin housing price decline is just reversion to the mean after the abnormal spike during Covid. And it is still 35% higher than pre-covid.

• tptacek 2y ago
  Ahhh, I see we're doing "no true housing price decline". Sorry, didn't realize, disregard my comment upthread.
  • mionhe 2y ago
    Serious question: did either city increase housing density significantly?
    • tptacek 2y ago
      Yes, Minneapolis especially.
      • cyberax 2y ago
        Yes. It got shittier AND more expensive. Great win. Rents are also up, looks like the blog post from a propaganda rag is using data from a rental website. Edit: here's a chart with CPI and rent indexes: https://fred.stlouisfed.org/graph/?g=1BXUx https://fred.stlouisfed.org/graph/?g=1BXUx
        • tptacek 2y ago
          When the price of something increases less than inflation, it has not gotten "more expensive". This feels like a straightforward point for an avowed capitalist who elsewhere on the thread railed against "commies".
          • cyberax 2y ago
            [flagged]
    • mikeyouse 2y ago
      Yes - both are building like crazy but Minneapolis is the gold-standard: https://streets.mn/2023/11/13/chart-of-the-day-supply-and-demand-in-action/ https://streets.mn/2023/11/13/chart-of-the-day-supply-and-de... Rents have fallen in nominal terms.
      • cyberax 2y ago
        [flagged]
  • cyberax 2y ago
    Temporary dips are certainly possible, mostly due to external events (e.g. 2008). But they won't be sustained, and the growth will quickly re-establish itself. Tokyo is a great example. I remember all the urbanists congratulating themselves about "How Tokyo solved the problem of housing".