4 ms·

> A rather small part of the economy relies on high long term returns on housing. Uh, my dude, real estate is the #1 sector in the Los Angeles and San Francisc

• ch4s3 1y ago
  It accounts for about 15% of GDP, and like other sectors you can sell more units for fewer dollars and still make the same amount of money while providing more value to your consumer. High housing costs drag on the economy.
• stego-tech 1y ago
  They’re just blindly quoting what they’ve heard instead of actually studying the data and environment to form a conclusion. Anyone under fifty in the US who has tried to buy a home since 2019 knows first-hand what the situation is right now, at least in their area. Those of us who have been “in the game” longer see these same patterns repeating elsewhere, suggesting the issue isn’t local regulations so much as a fundamentally systemic problem with how housing is treated in America.