Re:Why Is 'Affordable' Housing So Expensive to Build?
by mjevans on Saturday January 06, 2018 @11:00PM
(#16089065)
Vacancy is largely a function of the relationship between supply and demand curves.
What it also shows is how open to changes a given market is; if there's too much vacancy (think Detroit) then it's clear that something went VERY wrong in the market.
If there's too little vacancy (think SF, Seattle, etc) then what went wrong is mostly NIMBY and regulations failing to pair jobs and housing increases together. The result is a lack of flexibility and skyrocketing prices.
What it also shows is how open to changes a given market is; if there's too much vacancy (think Detroit) then it's clear that something went VERY wrong in the market.
If there's too little vacancy (think SF, Seattle, etc) then what went wrong is mostly NIMBY and regulations failing to pair jobs and housing increases together. The result is a lack of flexibility and skyrocketing prices.