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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]The densification argument is a classic YIMBY argument. Densification is not a new concept. Tell me where in DC housing prices have gone down or been stabilized based on new construction?[/quote]

Such a tired and ignorant argument.

Prices are going up because we aren't building nearly enough to satisfy demand. It's like you invited 100 people to a BBQ, cooked 10 meals and are demanding to know why there are still hungry people.

The bigger question is not "why are prices still expensive," it's "how much less expensive would they be if we built an adequate number of units and how much more expensive would they be if we had done nothing."[/quote]
Can you point to actual evidence?

The only way that affordable rental housing has ever been constructed for low income people is when the government did it. Current “affordable” rental housing is just full depreciated structures in bad locations in need of CAPEX (which is how the market is supposed to work).

The only historical time in this country that real estate prices ever went down in real terms was due to the unique combination of two factors, a population bust combined with a mass expansion of greenfield development (ie the suburbs).

Your entire mental model is invalid and unfortunately you don’t understand that. [/quote]

DP. I posed this in a different thread, but increasing supply lowers prices, and is well-established in academic literature:
https://docs.wixstatic.com/ugd/7fc2bf_ee1737c3c9d4468881bf1434814a6f8f.pdf
https://research.upjohn.org/cgi/viewcontent.cgi?ar...=1334&context=up_workingpapers
https://lao.ca.gov/Publications/Report/3345
https://www.dropbox.com/s/oplls6utgf7z6ih/Pennington_JMP.pdf?dl=0

I hate to "nuh-uh" you, but it's actually [i]your[/i] mental model that's incorrect, and you can't see it.[/quote]
LOL.

1. Not published or peer-reviewed
2. Broken link to “think tank” that does not publish peer reviewed work
3. A legislative report?
4. Not published or peer reviewed. Affiliated with same “think tank” as #2

Keep Googling. [/quote]

Okay, it's trivial to find more papers on the link between supply and affordability. This has been thoroughly established in the literature.

https://pubs.aeaweb.org/doi/pdfplus/10.1257/mac.20170388
https://pubs.aeaweb.org/doi/pdf/10.1257/jep.32.1.3
https://www.newyorkfed.org/medialibrary/media/research/epr/03v09n2/0306glae.pdf
https://onlinelibrary.wiley.com/doi/abs/10.3982/ECTA9823
https://faculty.wharton.upenn.edu/wp-content/uploads/2017/05/Regulation-and-Housing-Supply-1.pdf

The evidence is so overwhelming, one wonders how you have avoided it all these years. Could it be that your ignorance is willful because you're a beneficiary of restrictive land use regulations?

Also, I think it's great that you demand high-quality research that has been peer-reviewed! Where's your evidence? Besides what you've pulled from your ass, I mean.

And I love how you think that the Shiller chart is some sort of gotcha, because you've placed a nonsensical restriction that the explanation only relies on supply issues. That's absurd. That chart, however, is easily explained by the interaction of supply [i]with demand[/i], which is what we're all talking about to begin with.[/quote]

A study of upzoning in Chicago found that it neither increased housing supply nor drove down prices. In fact, prices went up. Here's an article on that from GGW hero Richard Florida:

https://www.bloomberg.com/news/articles/2019-01-31/zoning-reform-isn-t-a-silver-bullet-for-u-s-housing

[/quote]

Based on your logic, then, we should ban the construction of all new homes.

I guess the people moving here for jobs, population growth, etc, will just have to live under a bridge.

Seriously, take 2 seconds and think about the nonsense that you are proposing, lol. We need more housing. Prices wouldn't be high here if more people didn't wanna live here. It's really not that hard.[/quote]
"your logic"? "nonsense you are proposing"?

Not the PP but it would behoove you to read that article, read the study and try to digest what an actual and truest natural experiment can bring to bear on the topic that most interests you. I think what is happening right now is that you have so wedded yourself to an ideology that it is difficult for you to accept inconvenient facts that may refute key parts of that ideology, so you shunt them aside.

Some of us prefer to live in the real world and not a world constructed of our imagination. In the real world, concepts like economic rent exist, there are land speculators and there are efficient markets. In your world, evidently there are just simplistic supply lines going up and demand lines going down looking for equilibrium. So congratulations, you made it through freshman microeconomics.[/quote]

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