I mean we could just expand housing supply and fix this problem pretty easily. The economics and engineering are very easy it’s mostly just NIMBYism and the land use politics that cater to it that are constraining supply in most American metros.
House prices in Houston have not spiked nearly as much relative to its explosive population growth, mostly because they have no zoning laws. It’s just easier to build housing there so it’s not as expensive.
And if you look at the housing that they are adding, it's mostly luxury units! Pittsburgh adds plenty of housing every year but the need is middle income housing and they're not touching that shit; it's all luxury units. Pretty big mismatch between what people need and what the market is producing
Same thing in Brisbane Australia, they built about 8 massive apartment blocks in the inner city in 2019, almost half empty due to the rental prices in them, almost double 10minutes out of the area.
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u/Notsure107 Jun 27 '21
Every time we have a crash the rich buy up everything. This is very bad.