Re:Solving the housing crisis requires fighting monopolies i...
by adam_arthur on Saturday June 04, 2022 @05:06PM
(#31625065)
Inventory is not the same as structural supply. That's the big mistake many make, and inventory can very quickly accelerate back to a glut when conditions change (few months).
There is an element of changing preferences, but city centers also up greatly in price. Can't be the whole story
Re:Solving the housing crisis requires fighting monopolies i...
by notfbi on Saturday June 04, 2022 @08:40PM
(#31626727)
This research[1] estimates (15.1/23.8) 64% of the increases over pandemic period to remote work change, sounds like it could be a pretty big part of the story.
Re:Solving the housing crisis requires fighting monopolies i...
by adam_arthur on Saturday June 04, 2022 @11:23PM
(#31627709)
You can't tie bay area or NYC price increases to remote work.
You can tie LCOL price increases to them. But if that's the case, you would expect HCOL/central places to decline in price via the flip side of the same effect. Yet instead we see massive price increase in LCOL and smaller yet still big price increases in central/HCOL.
Obviously a many variable system, but stating that remote work should lead to a national 20% increase in prices is nonsensical
Re:Solving the housing crisis requires fighting monopolies i...
by notfbi on Sunday June 05, 2022 @09:37AM
(#31630876)
People want more space. They want more space in the country. They want more space in the city. A 2 bedroom urban apt doesn't accommodate 2 people WFHing, so roommates split up, adult children move out, established owners upsize, it's a general increase in demand everywhere, and evidently more than compensated for some people going urban-to-rural.
Re:Solving the housing crisis requires fighting monopolies i...
by oldgradstudent on Saturday June 04, 2022 @06:29PM
(#31625724)
The same was said in the early 2000s.
In 2008 we found out there was a massive housing bubble.
Looking just at the past two years ignores them past 14 years since the 2008 crisis, from which housing construction is just barely beginning to recover. And houses under construction is not completed house construction rate; each individual build is taking far longer because of supply chain issues, so it looks like there are far more houses in the pipeline, but there isn't actually an oversupply of housing by any means.
If there was an oversupply, we'd see flatter prices, or maybe even declines. Housing prices are quite sticky, but we aren't seeing either massive vacancy rates or falling prices.