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It would be higher if the rents dropped, but despite the massive oversupply that doesn’t seem to be happening. ‘Just build more’ YIMBY types should take note o
by lux-lux-lux 9mo ago
It would be higher if the rents dropped, but despite the massive oversupply that doesn’t seem to be happening.
‘Just build more’ YIMBY types should take note of this, though I’m afraid I don’t know what the solution is.
- zeroonetwothree 9mo agoOur evidence from a wide range of cities is that those that build more housing have lower rent growth. Actual decreases are unusual though.
- mixmastamyk 9mo agoInflationary policy continues to exist, also it is rare to have a true overabundance of housing. But places like Detroit show prices can go down in the right conditions. Commercial leases have their own quirks and long timelines that encourage waiting on a better price. Perhaps a tax on vacant commercial units.
- Izikiel43 9mo ago> Detroit show prices can go down in the right conditions. Those right conditions for rent going down are the wrong conditions for everything else.
- mixmastamyk 9mo agoYes, meant to quote the word "right."