6 korrents from this piece
Every claim below was made in this piece, quoted word for word and numbered in the order the piece makes them, so you can read it there rather than take our word for it. The sentence above each quote is our reading of the claim, not their wording. Each quote was checked against a stored copy of the page at build time; where the two differ, the quote is the fact.
Their wordsIf there’s one thing to take away from this essay, it's that you can’t infer a housing shortage by looking at housing construction rates in isolation.
Their wordsSo, historical evidence suggests that the US is short at least several million housing units.
Their wordsThere is essentially zero correlation - the metros with the largest rent increases had added population / added housing ratios no different than metros with smaller rent increases.
Their wordsThe more restrictions on land use, the higher rents you see.
Their wordsThere’s a reasonable amount of evidence that housing prices tend to adjust to match regional incomes.
Their wordsIn general, housing trends are largely driven by a small number of outlier metros.