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> Austin, Texas built a lot of apartments and then rents fell 22%. This is false. Just look at the chart [1]. All that's happened is some of the pandemic price

by jmyeet 2y ago

> Austin, Texas built a lot of apartments and then rents fell 22%. This is false. Just look at the chart [1]. All that's happened is some of the pandemic price gouging, something landlords were being sued over [2]. We simply cannot capitalism our way out of this problem. > i think that the claim that "supply and demand do not apply to housing" Where did I say that? Speaking more generally, the idea of a "free market" is a myth, particularly for housing. It's one of the most manipulated and politicized markets there is. But supply and demand do apply and it has been a political goal for decades to ensure that supply will be constrained. [1]: https://www.kut.org/austin/2024-06-13/austin-texas-rent-prices-falling-2024 https://www.kut.org/austin/2024-06-13/austin-texas-rent-pric... [2]: https://www.austinmonitor.com/stories/2025/01/u-s-accuses-six-landlords-of-rent-price-fixing-see-which-apartments-they-own-in-austin/ https://www.austinmonitor.com/stories/2025/01/u-s-accuses-si...

davidw 2y ago
Landlords would be happy if rents never fell though. They're not dropping them because "gosh, maybe we charged too much during the pandemic". New housing was built and landlords had to compete for tenants. Dropping prices during a time when inflation is still a thing is a pretty big deal, and very beneficial to thousands of people. The housing market is, indeed, anything but free. That's a core idea behind the YIMBY movement: make it legal to build more kinds of housing, rather than just meet demand by outward sprawl. > But supply and demand do apply and it has been a political goal for decades to ensure that supply will be constrained. That's what YIMBY is about: fighting back against those constraints. They have hugely detrimental consequences for people, the economy and the environment. In terms of "capitalism", I think most YIMBYs are pragmatic - capitalism is the system we have in the US, so we need to leverage it as much as possible to get the housing we need. If we could get Vienna style social housing, I think a lot of YIMBYs would be happy to sign up. You still need Vienna style zoning and building codes to get that, though.

by jmyeet 2y ago

davidw 2y ago

Landlords would be happy if rents never fell though. They're not dropping them because "gosh, maybe we charged too much during the pandemic". New housing was built and landlords had to compete for tenants. Dropping prices during a time when inflation is still a thing is a pretty big deal, and very beneficial to thousands of people. The housing market is, indeed, anything but free. That's a core idea behind the YIMBY movement: make it legal to build more kinds of housing, rather than just meet demand by outward sprawl. > But supply and demand do apply and it has been a political goal for decades to ensure that supply will be constrained. That's what YIMBY is about: fighting back against those constraints. They have hugely detrimental consequences for people, the economy and the environment. In terms of "capitalism", I think most YIMBYs are pragmatic - capitalism is the system we have in the US, so we need to leverage it as much as possible to get the housing we need. If we could get Vienna style social housing, I think a lot of YIMBYs would be happy to sign up. You still need Vienna style zoning and building codes to get that, though.