Let me make it easier to understand: "The U.S. is running out of places that people want to live."
We're realizing that living in an anonymous suburb on a tract of cheap land a 90 minute drive from where we work is stupid. It's terrible for the environment, it stunts social and business opportunities, and it is boring. More people in cities is good for the environment, good for economic equality, and good for sanity.
There are an infinite number of places that you "could" live, so your use of "running out of housing" is a straw man. By your definition, it's not even possible to "run out of housing".
Cry me a river.
When cities become attractive, as the Bay Area is now, they don't respond to the right signals to grow, and when they grow, they grow in unbalanced ways.
I think the solution is through a fundamental overhaul of land-use policy, which is unlikely to happen anytime soon. In the meantime, we'll have failed cities with a ceiling for growth.
I'd love if more companies allowed remote work.
A mutual friend is renting a 1br in the city (which has some great food options) for $1400/mo. He was my lab mate in college and the best programmer in our class. He has no intent to move out to higher cost cities.
"Shockingly livable" was my takeaway.
Part of Baltimore's cheapness is that it has one of the highest crime rates per capita. In addition, the dangerous areas are much more interspersed and distributed - at one moment you can be walking down a nice block and the very next block is all boarded up. I've lived in both Baltimore and NYC and definitely never felt unsafe in NYC, whereas there have been multiple times that I had a sudden sense of danger in Baltimore. The Johns Hopkins medical school would routinely post security bulletins about people being mugged a few blocks from campus in the middle of the day.
If it wasn't for Johns Hopkins University and the University of Maryland Medical school there wouldn't be much to Baltimore.
Simple example that shows this could be no big deal .
incomes = [2,4,8,500, 500] median income = 8
rents = [1,2,4, 250, 250 ] average rent = 101.4
OMG !!! SO MUCH MORE THAN AVERAGE INCOME.
Which was followed by:
> land-value taxation...is basically just the idea of giving property tax exemptions for urban buildings.
That is almost the exact opposite of what LVT does.
It won't create more square-footage of land in which people can live, but it makes it more likely that cities will grow in ways to sustain more people.
That's just not true.
An trending increase in the national average monthly cost of rent shows that people are competing more for housing. But, that can be explained by a migration to major metropolitan centers and/or tech centers. Which is a totally different mechanism than "running out of housing".