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Tldr; there’s a housing shortage because… there are not enough houses being built
and they’re too lucrative to make them affordable.
My question is, who’s buying all the homes up? I mean we know the answer.
Investors, and not just mega corporations, local investors are a major issue.
We have collectively come to understand the idea that you can get free money by buying houses and renting them out. If you talk to any lay person and ask them how they’d spend a million dollars the most common answer seems to be “buy property”
Our issue is in our collective minds, but the inertia of the idea means it will probably never be fixed unless there’s a catastrophe
Which is a silly conclusion… What’s the point? The better question would be why isn’t more housing being built? And I suspect the answer to that question is there is a vested interest in increasing that deficit.
Whenever someone starts to conclude that housing is so expensive purely because there aren’t enough homes, they often follow that up with pointing to construction costs. Which to me screams deregulation and wage complaints, two things an improving society should not be encouraging.
“Could they build it? Yes. Will they build it? No,” Gardner said, citing steep construction costs”
Aaaand let’s wrap this up, that’s all she wrote
More like citing lower than 45°+ angle profits.
Also all the vacant housing. But mentioning that might make some real estate owners nervous.
I’m all for building new homes, but just posting data from Hines is pretty lazy journalism.
Planet Money had a good episode going into three of the reasons (boomers aging in place, zoning laws, and losing people/expertise in home building industries) https://www.npr.org/2021/07/30/1022827659/three-reasons-for-the-housing-shortage#:~:text=Today on the show%2C we,know how to build houses.
The problem is insufficient negative consequences for housing hoarders due to state protection.
Data: Hines analysis of Census Bureau and Moody’s data; Note: Population demand is a theoretical housing demand metric based on long-term household formation and homeownership rates by age cohort; Chart: Axios Visuals
very scientific
If it’s a common method used and has shown to be accurate then being consistent in your metric outweighs some flaws.
I don’t like artificial metrics constructed from other metrics without any explanation.
Your lack of knowledge on a subject doesn’t mean it isn’t adequately explained elsewhere to the extent that it is rudimentary for most people.
Fuckin hell, America’s dwindling attention span demonstrated in one article 😂
Do yous get confused if an article has sentences more than ten words long? Does your love of guns come from an irrational fear of semicolons? 🙃
