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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Today I learned that over the past decade, housing unit production in DC outpaced population growth. According to the YIMBY urbanist crowd, this should have led to lower prices and yet prices went up, up, up.

Honestly, we will be in a better world when these simpletons are ignored.[/quote]

Prices actually did go up in DC considerably more slowly than the national average, and considerably slower than other high cost cities.  See:

https://realestatedecoded.com/case-shiller/

You can see in the second chart that adjusted for inflation, DC prices increased only modestly through 2019.  You can also see from the first tables that we've had some of the slowest price appreciation over the past year.  You can also see in the "Real Monthly Principal and Interest Price Index" that, once you adjust for both inflation *and* declining mortgage interest rates, DC has basically not gotten any more expensive at all for homeowners who take out mortgages, and it's cheaper to own in real terms than it was in the early 1990s or mid-2000s.

The demand curve slopes downward.[/quote]
And yet, they still went up by a lot. Never down.[/quote]

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