korrents

Daniel Herriges

@daniel-herriges · 9 positions · 0 changes of mind

Urban planner, co-author with Charles Marohn of Escaping the Housing Trap, and policy director at the Parking Reform Network. Wrote for Strong Towns from 2015, mostly about how housing markets actually set prices.

Daniel Herriges did not write this page.

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  1. Our reading

    Rents rise when vacancy is low and stabilise when vacancy is high, which makes the vacancy rate the housing metric that actually predicts prices.

    Their wordsEmpirical data drawn from many different regions clearly shows that, on a metropolitan scale, rents tend to rise when vacancy rates are low and stabilize when vacancy rates are high.

    ↗Shortages and Spillovers: How People Misunderstand the Housing Crisisstrongtowns.org 1st of 5 in this piece

    housing

    Interesting

  3. Our reading

    The single biggest barrier in the housing market is that most neighbourhoods are legally forbidden to add any housing at all.

    Their wordsThe biggest barrier of all, of course, is that the majority of neighborhoods are not allowed to add any housing at all.

    ↗Shortages and Spillovers: How People Misunderstand the Housing Crisisstrongtowns.org 2nd of 5 in this piece

    housing

    Interesting

  5. Our reading

    Housing demand that a neighbourhood is not allowed to absorb does not disappear; it floods somewhere else, and that is what a housing shortage actually is.

    Their wordsSo, when housing demand can’t be met in a given place, it doesn’t evaporate. It spills over. It goes somewhere.

    ↗Shortages and Spillovers: How People Misunderstand the Housing Crisisstrongtowns.org 3rd of 5 in this piece

    housing

    Interesting

  7. Our reading

    How dense a neighbourhood ought to be is a moral and political argument, not an empirical question with a discoverable right answer.

    Their wordsBut understand that it’s ultimately a moral and political argument, not an empirical question of the ideal population or the exact level of housing demand in Santa Monica.

    ↗Shortages and Spillovers: How People Misunderstand the Housing Crisisstrongtowns.org 4th of 5 in this piece

    housing

    Interesting

  9. Our reading

    Building a lot of housing in an expensive city will not lower rents there; it lowers them in the cheaper places that were absorbing its spillover demand.

    Their wordsIn fact — and this is a point that is, in my opinion, underappreciated by the pro-housing side — building a bunch of housing in Santa Monica would probably not lower rents in Santa Monica. It would bring more people to Santa Monica, creating lower rents elsewhere in Greater Los Angeles as the spillovers from Santa Monica lessened.

    ↗Shortages and Spillovers: How People Misunderstand the Housing Crisisstrongtowns.org 5th of 5 in this piece

    housing

    Interesting
  10. 17 months earlier

  11. Our reading

    Most affordable homes are not demolished, they are repriced: units move between price tiers without anything physical changing, and that dwarfs new construction.

    Their wordsThese shifts in price without any physical change to the housing stock are by far the biggest part of the affordability story. They dwarf the impact of actual new construction.

    ↗There's No Such Thing as Affordable Housingstrongtowns.org 1st of 4 in this piece

    housing

    Interesting

  13. Our reading

    Affordability will be decided by what happens to the price of the homes that already exist, not by how many new ones get built.

    Their wordsAffordability for the masses will live or die not by what we build this year or next, but by what happens to the price of homes that already exist, in which the vast majority of people live.

    ↗There's No Such Thing as Affordable Housingstrongtowns.org 2nd of 4 in this piece

    Interesting

  15. Our reading

    Affordability is not a property of a building; it is a price set in a transaction, so there is no such thing as affordable housing, only affordable prices.

    Their wordsBecause affordability is not, and has never been, an intrinsic quality of a building.

    ↗There's No Such Thing as Affordable Housingstrongtowns.org 3rd of 4 in this piece

    housing

    Interesting

  17. Our reading

    Housing affordability is almost the direct inverse of how many new homes are built, so the answer is to build more houses.

    Their wordsAdding chairs to the game—any kind of chairs—will tend to make the competition less cutthroat for the chairs already in play.

    ↗There's No Such Thing as Affordable Housingstrongtowns.org 4th of 4 in this piece

    housing

    Interesting