tag:blogger.com,1999:blog-1110014885778996459.post3993712424083162442..comments2024-03-28T11:48:09.419-07:00Comments on Idiosyncratic Whisk: Housing: Part 142 - Limited housing supply is the reason for everything.Kevin Erdmannhttp://www.blogger.com/profile/07431566729667544886noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-1110014885778996459.post-1113873383079939212016-05-04T12:09:27.754-07:002016-05-04T12:09:27.754-07:00Thank you!Thank you!Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-17314656174395655272016-05-04T12:03:02.719-07:002016-05-04T12:03:02.719-07:00Have enjoyed following you. Great detective work h...Have enjoyed following you. Great detective work here sirAnonymoushttps://www.blogger.com/profile/04197076994266473901noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-2722279479349925792016-05-02T16:28:19.627-07:002016-05-02T16:28:19.627-07:00Yes. That's right. Very specifically NYC, LA...Yes. That's right. Very specifically NYC, LA, San Francisco/San Jose, San Diego, and Boston. There is a very distinct signature of these cities where economic opportunity and sharp limits to housing supply are both at extreme and opposite levels, creating trends in cost and income that are unprecedented.<br />Here is an old post with graphs showing net domestic migration and the relationship between rent and income that is the signature of these cities.<br />http://idiosyncraticwhisk.blogspot.com/2015/11/housing-series-part-80-measuring-real.html<br />I don't get into the local details much, but I think most of the solution lies in higher densities in the core cities rather than expansion of the suburbs. In either case, when our most prosperous cities have net domestic migration that is worse than Detroit, the problem is clearly one that needs to be addressed.Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-55898340682921758762016-05-02T15:01:26.185-07:002016-05-02T15:01:26.185-07:00Simple question here: Closed Access Cities = citi...Simple question here: Closed Access Cities = cities with restrictive development regs (i.e. don't touch our precious woodlands, valleys, and prairies) and Open Access cities have less restrictive policies (i.e. okay, go plow up another corn field, that's cool). Or does it mean something else?Percival Nestahttps://www.blogger.com/profile/07976132786817527812noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-81071737719113092222016-05-01T08:58:55.556-07:002016-05-01T08:58:55.556-07:00Or should I say, whatever bubble there was was not...Or should I say, whatever bubble there was was nothing compared to the establishment of securitization for private money. Gary Andersonhttps://www.blogger.com/profile/15499434824034613894noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-24864007357426034822016-05-01T08:44:03.851-07:002016-05-01T08:44:03.851-07:00Kevin, you still have to fold the facts of this ch...Kevin, you still have to fold the facts of this chart in with your other research. And it appears that private mortgage pools really caused the housing bubble, with securitization and bogusly rated AAA bonds. http://www.examplesofglobalization.com/p/housing-bubbles-most-important-chart.htmlGary Andersonhttps://www.blogger.com/profile/15499434824034613894noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-65638996484180674552016-05-01T01:34:17.637-07:002016-05-01T01:34:17.637-07:00It would lower NGDP because rents would come down....It would lower NGDP because rents would come down. But you know, since productivity is so hard to measure in these frontier service and tech industries, I think there is a chance that RGDP would decline too, as measured. The same might be the case with inequality, since so much of this happens through costs and migration. I think that's part of what's so difficult about this issue. GDP has a tough time capturing all the moving parts here.Kevin Erdmannhttps://www.blogger.com/profile/07431566729667544886noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-27979107586185621092016-04-30T21:26:18.968-07:002016-04-30T21:26:18.968-07:00What would be the real GDP and income equality gai...What would be the real GDP and income equality gains if closed-access city housing stock was tripled?<br /><br />My advice is to get this issue into the establishment papers.pithomhttps://www.blogger.com/profile/13997094225496018110noreply@blogger.comtag:blogger.com,1999:blog-1110014885778996459.post-12354094759458158542016-04-30T17:03:35.071-07:002016-04-30T17:03:35.071-07:00Excellent blogging.
I long felt what you are say...Excellent blogging.<br /><br /> I long felt what you are saying is true, but had only anecdotal observations. You have done the real work in clarification and amplification.<br /><br />The solution? <br /><br />Even harder!<br /><br />"Build more housing---but not in my neighborhood!"<br /><br />Reading the 1926 Supreme Court decision upholding property zoning is fascinating.<br /><br /> Gratuitously, the Supreme Court vilifies apartments in single-family detached neighborhoods as "parasites". The topic at hand was industrial zining. Property zoning was and is class warfare---but from the top down! No wonder property zoning is never a topic in the usual right-wing blogs.<br /><br />Of course you have the knee-jerk anti-growther elitists in closed access cities.<br /><br />One (devious) solution for Los Angeles: change zoning so that any luxury housing, no matter how dense, is automatically permitted.<br /><br />Think about it.<br /><br />It would bring a boom to Los Angeles and lower housing prices. And where do you think that luxury housing would be constructed?<br /><br />Not in Watts.<br /><br />Benjamin Colehttps://www.blogger.com/profile/14001038338873263877noreply@blogger.com