It turns out that basic economics 101 works after all and if you build more housing, housing prices drop.
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It turns out that basic economics 101 works after all and if you build more housing, housing prices drop. You don't need rent control, you don't need minimum affordable housing ratios, you don't need more regulations, you just need to build more housing.
Austin’s Surge of New Housing Construction Drove Down Rents
After decades of explosive growth, Austin, Texas, in the 2010s was a victim of its own success. Lured by high-tech jobs and the city’s hip reputation, too many people were competing for too few homes. From 2010 to 2019, rents in Austin increased nearly 93%—more than in any other major American city. And home sale prices increased 82%, more than in any other metro area in Texas.
(www.pew.org)
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It turns out that basic economics 101 works after all and if you build more housing, housing prices drop. You don't need rent control, you don't need minimum affordable housing ratios, you don't need more regulations, you just need to build more housing.
Austin’s Surge of New Housing Construction Drove Down Rents
After decades of explosive growth, Austin, Texas, in the 2010s was a victim of its own success. Lured by high-tech jobs and the city’s hip reputation, too many people were competing for too few homes. From 2010 to 2019, rents in Austin increased nearly 93%—more than in any other major American city. And home sale prices increased 82%, more than in any other metro area in Texas.
(www.pew.org)
@yiningkarlli landlords hate that one! /s
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R relay@relay.infosec.exchange shared this topic
