Dare I suggest that ownership class does not want to see new housing precisely because it lowers the value/rental income of their existing assets?
Dare I further suggest that it is this class of wealthy people who donate to campaigns and thus who government officials at all levels ultimately serve?
I’ll hang up and take my answer off the air
If everyone has a house, everyone has a house. Good job using that higher education….
One key piece that people miss is that Americans are consuming far more housing than in the past. Part of this is the empty nesters and part of it is just that we have higher incomes.
When people consume more housing than in the past, the housing supply needs to expand to keep up or prices will rise. In most places, the supply didn’t keep up and prices are higher. People are now devoting a bigger chunk of their income to housing because of a supply shortage.
Somebody got paid to produce this study? Wow.
And that’s why people who seek rents don’t want more houses to be built.
The lobbying effort is real, it is huge and it is deeply embedded.
Supply and demand.
No one mentions that Minneapolis passed rent control laws 2021, rents cannot be increased more than 3% yoy. That probably scared a few landlords away, which put more properties on the market for sale, which brought prices and then rents down even more.
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Dare I suggest that ownership class does not want to see new housing precisely because it lowers the value/rental income of their existing assets?
Dare I further suggest that it is this class of wealthy people who donate to campaigns and thus who government officials at all levels ultimately serve?
I’ll hang up and take my answer off the air
If everyone has a house, everyone has a house. Good job using that higher education….
One key piece that people miss is that Americans are consuming far more housing than in the past. Part of this is the empty nesters and part of it is just that we have higher incomes.
When people consume more housing than in the past, the housing supply needs to expand to keep up or prices will rise. In most places, the supply didn’t keep up and prices are higher. People are now devoting a bigger chunk of their income to housing because of a supply shortage.
Somebody got paid to produce this study? Wow.
And that’s why people who seek rents don’t want more houses to be built.
The lobbying effort is real, it is huge and it is deeply embedded.
Supply and demand.
No one mentions that Minneapolis passed rent control laws 2021, rents cannot be increased more than 3% yoy. That probably scared a few landlords away, which put more properties on the market for sale, which brought prices and then rents down even more.