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A comment on The housing shortage is larger than you think. Parent comment

Re:The housing shortage is larger than you think by voidwtf on Tuesday December 19, 2023 @05:42PM (#38702925)
Can you please provide a source for the rent decreasing? Maybe a site showing the historical rental cost(s) for a given unit? I've not seen that happen in my market at all, I've only seen existing rental rates increase.

Edit: I think I see where a lot of our disconnect is coming from. We have no rent control here, rent very rarely decreases and is mostly pegged to comparative sq.ft. rentals in the area. Age of the property does not factor as much as location.

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Re:The housing shortage is larger than you think by bombcar on Tuesday December 19, 2023 @07:18PM (#38703864)
It’s also simple math. If 10k new units are built, you either need 10k new people to enter the market, or prices will drop.

Do enough of it and rents will begin to fall below loan maintenance, causing even more sales and more price drops.

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Re:The housing shortage is larger than you think by OrwellianChild on Wednesday December 20, 2023 @11:46PM (#38717108)
Rent control only fights against upward pressure for existing renters... When you describe rents continually going up, it's due to more people competing for limited rental units. Cities can and do see rent declines (they first show up as "first month free" etc. before landlords bite the bullet and reduce rate). Seattle has seen temporary competition for rents in some neighborhoods as new construction started in 2019/2020 comes online. It won't last since we've seen such a decline in new construction starts, but the mechanism is sound.
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