How housing costs got here and where they're going.
Platform | Substack | Pricing | Freemium | Publishes | Daily |
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Issues | 221 | Subscribers | Read | kevinerdmann.substack.com |
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Sorry to flood your in-boxes. Another comment required a new post so I could paste another chart in response.
Here is another chart, similar to Figure 1 from the previous post. The y-axis is still the change in real income per capita. I have annualized it here. And the x-axis is now annual population growth instead of annual housing permits per cap...
A quick note today on agglomeration economies. I have written here and there about it. There seems to be a tendency among economists to emphasize the productivity of cities as a reason for expensive housing. Like, the thing that makes our t...
Here I want to build on the post about mortgage affordability vs. rent affordability, on the point that the clampdown on mortgage lending in 2008 necessarily led to unprecedented rent inflation.
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