I'll be tweeting some highlights from @KAErdmann's talk with @YIMBYNeoliberal. Happening now: https://www.eventbrite.com/x/yimby-neoliberal-blame-nimbys-for-the-great-recession-with-kevin-erdmann-tickets-134730421317?utm_campaign=reminder_attendees_event_starting_email&utm_medium=email&ref=eemaileventremind&utm_source=eventbrite&utm_term=eventname
In the lead up to the Great Recession, Los Angeles and New York City were building less on a per capita basis than Detroit and St. Louis. Seems bad!
How did new housing and good paying jobs come to be a bad thing? We set an artificial Malthusian limit on a handful of cities.
How did new housing and good paying jobs come to be a bad thing? We set an artificial Malthusian limit on a handful of cities.
How did new housing and good paying jobs come to be a bad thing? We set an artificial Malthusian limit on a handful of cities.
What went wrong in the lead up to the housing bust? Home prices skyrocketed relative to rents. We knew that. But also, rents themselves skyrocketed! "This wasn't a cycle, it was a regime shift."
What went wrong in the lead up to the housing bust? Home prices skyrocketed relative to rents. We knew that. But also, rents themselves skyrocketed! "This wasn't a cycle, it was a regime shift."
What went wrong in the lead up to the housing bust? Home prices skyrocketed relative to rents. We knew that. But also, rents themselves skyrocketed! "This wasn't a cycle, it was a regime shift."
What went wrong in the lead up to the housing bust? Home prices skyrocketed relative to rents. We knew that. But also, rents themselves skyrocketed! "This wasn't a cycle, it was a regime shift."
What went wrong in the lead up to the housing bust? Home prices skyrocketed relative to rents. We knew that. But also, rents themselves skyrocketed! "This wasn't a cycle, it was a regime shift."
"High home prices were just a symptom. The disease was high rents." High rents are associated with high home price-to-rent ratios.
"High home prices were just a symptom. The disease was high rents." High rents are associated with high home price-to-rent ratios.
"High home prices were just a symptom. The disease was high rents." High rents are associated with high home price-to-rent ratios.
Why the housing construction boom in the Sun Belt? Because these cities were absorbing housing refuges from the Wes Coast/Northeast—the housing crisis was being exported and the Sun Belt housing sector was sprinting to keep up.
Why the housing construction boom in the Sun Belt? Because these cities were absorbing housing refuges from the Wes Coast/Northeast—the housing crisis was being exported and the Sun Belt housing sector was sprinting to keep up.
Why the housing construction boom in the Sun Belt? Because these cities were absorbing housing refuges from the Wes Coast/Northeast—the housing crisis was being exported and the Sun Belt housing sector was sprinting to keep up.
"You can confidently flip the conventional wisdom [about the housing bubble] and find the truth. We built too many houses in the Sun Belt? No, that was a response to real demand." The "excess units" were from population loss in closed-access cities that needed the housing.
"You can confidently flip the conventional wisdom [about the housing bubble] and find the truth. We built too many houses in the Sun Belt? No, that was a response to real demand." The "excess units" were from population loss in closed-access cities that needed the housing.
"You can confidently flip the conventional wisdom [about the housing bubble] and find the truth. We built too many houses in the Sun Belt? No, that was a response to real demand." The "excess units" were from population loss in closed-access cities that needed the housing.
An absolutely mind boggling element of US housing policy is that we basically destroyed our construction industry between 2006 and 2011.
"We effectively made illegal the bottom half of home buying demand."
. @KAErdmann's topline takeaways:
You can follow @mnolangray.
Tip: mention @twtextapp on a Twitter thread with the keyword “unroll” to get a link to it.

Latest Threads Unrolled:
Those who think consciousness raising & movement building are disconnected, or even a distraction from electoral politics have not paid attention to the history of social change.In this thread, we
Read more
The 2020s will be known as the Remote Work decadeA few predictions of what is likely to emerge[ a thread ] Third Space: Office and Working from Home will
Read more
1/29: Have you ever had a concept explained to you that helps frame complex issues you’ve been wrestling with and opens your eyes to new possibilities? A concept that I
Read more
By continuing to use the site, you are consenting to the use of cookies as explained in our Cookie Policy to improve your experience.