What am I going to do when every city in the U.S. builds so much housing that rent gets really cheap? I'm going to throw a huge goddamn party, that's what
What am I going to do when every city in the U.S. builds so much housing that rent gets really cheap? I'm going to throw a huge goddamn party, that's what
@Noahpinion Nothing drives growth more than people knowing they can succeed TX isn’t building fast enough. We can do better
@Noahpinion Gonna go heterosexual and have kids just so I can raise them to enjoy low housing costs in the future.
@Noahpinion Nobody's gonna come because they're all going to also be throwing parties in their sick houses
@Noahpinion I'm going to go to brunch all the time
@Noahpinion Can we have public transit and accessible green spaces that aren’t homeless camps too?
Noah, I hear the sentiment but it's a little bit misguided. I am on the side of more construction, more building, absolutely. But the goal should not be to reduce current homeowners assets to negative levels. That benefits nobody. And it doesn't benefit the people about to buy, as they will not see their assets rise as well. As an economist I'm sure you understand this obvious point that sometimes gets forgotten. Typically you would see new land being developed, new highways, rail and other forms of public transportation. Those who can afford to pay the higher rates to live closer to, say downtown, have that convenience in style of life. Less wealthy buyers, new families, will buy on the outskirts of town, slowly building their equity nest and deciding whether they want to move closer to the city or ocean or whatever area that might be more expensive. This works when cities properly plan for expansion. When they allow a combination of rezoning within the city as well as development planning on the outskirts. You also need efficient and cheap forms of transportation into the working areas. This last part is missing from a lot of major cities in America. What we seeing in Austin is generally a good thing, and anyone paying attention saw this coming a couple of years ago. This is not surprising and it doesn't really warrant an article but the inventory will eventually get purchased and we will be back to growth. Long response, but the point is there's a difference between lowering current homeowners assets in the same geographic area, and having inventory available to purchase elsewhere.
@Noahpinion Don’t worry that’s never going to happen SF is downzoning the city NYS is going to pass universal rent control & pass zero supply reform
@Noahpinion how much of that labor is undocumented? Texas benefits greatly from undocumented workers; or so I assume.
@Noahpinion Would be a real shame if people drowned on too much quality of life.