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The anti-abundance critique on housing is wrong

derekthompson.org

691–700 of 817 posts

Re: The anti-abundance critique on housing is wrong

#691

Earlier quoted context omitted.

> Excessive regulation is 90% of it. Housing crisis is observed in almost all what is called "first world" (europe, japan, usa). I believe that 90% of the issue is more global than a regulation.

The global issue is that elected representatives are becoming weaker. The idea that a city hall would need to organize some sort of public meeting before approving a construction project is a fairly new one. The city council is elected to represent the people. If they need "community input" why are they even here? (Nevermind the obvious problem with such participatory process - sane and normal people can't participat…

Is this because the representatives are becoming weaker - or is it because we're asking the government to get involved in such a huge portion of what used to be free (as in speech) that it's impractical for them to pay attention themselves at the necessary level, and have to offload the work somehow?

That is, I'm claiming that government can't scale to the levels that the 20th Century escalated it to, with any degree of efficiency at all.

Re: The anti-abundance critique on housing is wrong

#692

Earlier quoted context omitted.

What shares are you talking about? Debt != shares

From wikipedia: > Slim's investments in the company included large purchases of Class A shares in 2011, when he increased his stake in the company to 8.1% of Class A shares,[43] and again in 2015, when he exercised stock options -- acquired as part of a repayment plan on the 2009 loan -- to purchase 15.9 million Class A shares, making him the largest shareholder. [my emphasis, https://en.wikipedia.org/wiki/The_New_Yo…

Your point being? I just want a coherent response from you. Your initial question was how is the NYT different as you assumed they make all their money from a billionaire benefactor and that subscriptions are not a significant part of the income of any news paper. Now it's about that one year where their income wasn't doing well. And they took a loan. And the creditor bought stock that they sold later.

Re: The anti-abundance critique on housing is wrong

#693
post #5

So much of the journalism we read is heavily processed and barely-reported and it's startling to see how much of a superpower simple shoe-leather reporting actually is. Derek Thompson's an incredibly sharp writer, but not really a subject matter expert on housing economics; all he did here was read papers and call up the authorities they cited, and the narrative behind those papers collapsed. We're often so down on j…

Abundance YIMBYism has many shortcomings. It doesn't address the risk of gentrification and displacement, the slow and unproven trickle-down effect of market-rate housing, or the critical need for direct public housing to serve low-income communities. Journalistic ideologues deserve little praise for dismantling the weakest counterarguments of their opponents while ignoring core criticisms.

Your arguments are not backed up by anything.

> gentrification and displacement

These are not actual issues with regards to housing being too expensive. These are pet issues divorced from economics.

> the slow and unproven trickle-down effect of market-rate housing

This is absolutely proven in the data, and even a basic thought experiment using the pigeon hole principle will show that more houses means the prices drop of existing stock.

> critical need for direct public housing to serve low-income communities

Why is this a critical need? More housing being built could also mean more public housing, but removing zoning and land use regulations doesn't hurt this.

It seems you are more disappointed that your personal pet political issues are being ignored in favor of a market solution to house prices.

Re: The anti-abundance critique on housing is wrong

#694

The housing crisis is a cultural problem. We don't want to build density, and we don't want to build transportation, because this all lowers housing values, and besides the millions of homeowners you'll piss off, you'll destabilize an economy primarily built on the mortgage. Not a good reelection plan. The places you're seeing growth are places where we could buy the land for cheap: suburbs and exurbs. We build huge…

this is sort of wrong though, there is a measurable increase in positive economic activity with increased density. you can increase housing in an area in a way that doesn’t mess with people’s existing home evaluations, at least in urban enough areas

Re: The anti-abundance critique on housing is wrong

#695
post #650

Earlier quoted context omitted.

This is a bad-faith description of the abundance movement. The central thesis of the abundance movement is this: Every time we make a regulation, we are making a tradeoff. In the case of housing, an example would be "zoning only for single family housing". It's trading off affordability for quieter neighborhoods. Another might be "public housing contracts must favor minority-owned contractors". It trades off affordab…

The abundance movement IS a bad faith movement. It’s entirely the creation of the donor/billionaire set and its rollout is designed to stop the Democratic Party from taking the obvious next step of tackling concentrated economic power, following the utter and abject failure of corporate centrism. There’s literally no ambiguity here, the abundance summits feature obvious had faith actors like Andreesen. This kind of t…

This is a purely ad-hominem attack.

Re: The anti-abundance critique on housing is wrong

#696
post #650

Earlier quoted context omitted.

The abundance movement IS a bad faith movement. It’s entirely the creation of the donor/billionaire set and its rollout is designed to stop the Democratic Party from taking the obvious next step of tackling concentrated economic power, following the utter and abject failure of corporate centrism. There’s literally no ambiguity here, the abundance summits feature obvious had faith actors like Andreesen. This kind of t…

This is a purely ad-hominem attack.

Ad-hominem is a great way to understand a group of people that are obviously full of shit and engaged in self-serving advocacy.

Unless you think this guy is actually interested in building more housing:

https://fortune.com/2022/08/13/atherton-california-housing-m...

Re: The anti-abundance critique on housing is wrong

#697
post #5

So much of the journalism we read is heavily processed and barely-reported and it's startling to see how much of a superpower simple shoe-leather reporting actually is. Derek Thompson's an incredibly sharp writer, but not really a subject matter expert on housing economics; all he did here was read papers and call up the authorities they cited, and the narrative behind those papers collapsed. We're often so down on j…

Reporters used to start at something like the City News Bureau.[1] For a century, the City News Bureau covered local news for Chicago and sent it in to the local newspapers. Lasted until 2005. Young reporters started there, covering every police station, every major crime, every major fire, every major trial, and getting the facts right, or else. The bureau`s unsentimental motto: ”If your mother says she loves you, c…

Yes the deeply depressing thing is that these sort of city news articles are now very much taken verbatim from press releases, and those press releases are from professional police communications departments, and so this gives enormous new powers to the police in able to shape the broader narrative as their politics and agenda see fit.

For example we can see here that this news article is lifting directly from the police press release. https://bsky.app/profile/kwardvancouver.bsky.social/post/3lu...

Maybe it wasn't even an overworked city reporter that did this but simply an automated AI creating news articles straight from the police press releases.

Re: The anti-abundance critique on housing is wrong

#698
post #420

Earlier quoted context omitted.

My gut feeling is that wealthy people buying up the housing stock to rent out is not actually as common just supply restrictions not meeting the demands of individuals. I used to live in Vancouver, and on my street almost all occupants were owners. But guess what, the number of houses on that street has not changes in 100 years, and the number of people who want to live in Vancouver has probably increased tenfold. Th…

Why not tax primary residences too? Why should housing hoarders pay no tax when someone who invests in a productive business or hoards mostly useless shiny metals has to pay capital gains tax?

They probably could be taxed but not a lot of countries do this and those that do have exemptions.

There's many arguments against taxation of primary residents but the strongest is probably that it punishes and hinders the ability for people to make sideways movements from similar properties to other similar properties, so it hinders housing liquidity, labour movement etc.

Re: The anti-abundance critique on housing is wrong

#699

There is an incredibly large lobby group who is fully invested in house prices rising or at least not falling, namely homeowners. and since most politicians at a high level usually own one or more houses, they are fully invested in it as well.

> namely homeowners I'm a homeowner and rising house prices are terrible for me. Property taxes have doubled, and the prospect of switching neighborhoods (as one might consider doing for work, school, or other reasons) feels off the table given the high costs involved in the transaction, since agent fees are a percentage of the sale. But some homeowners are to blame, at the civic level, where those who are happy with…

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Re: The anti-abundance critique on housing is wrong

#700
Where I live the city has gained 90,000 people in the past 5 years. It’s about 68 new residents a day or about 30 families.

They have been building houses as fast as possible here. When single family houses weren’t springing up fast enough then came the explosion of giant apartment complexes.

I am not discounting the actual economic causes mentioned in the article, but securing financing appears to be a major factor that slows things down.

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