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San Diego rents declined following surge in supply

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Re: San Diego rents declined following surge in supply

#4

Post by ivewonyoung »

dmitrygr wrote: post #2

Increase in supply lowers equilibrium price? Somebody, pinch me!

A mainstream view on one side of the political spectrum that increase in new home supply(especially if high end) does not lower prices or reduce shortage.

> One well-worn refrain of progressive urban politics is that new, “luxury” housing will not help solve the housing shortage. A 2024 study of U.S. voters found that 30 to 40 percent believed more housing would, instead, increase prices, and another 30 percent believed it would have no effect

https://www.theatlantic.com/ideas/2026/02/housing-crisis-ric...

Re: San Diego rents declined following surge in supply

#5

Post by fhdkweig »

dmitrygr wrote: post #2

Increase in supply lowers equilibrium price? Somebody, pinch me!

That part is the obvious part. I want to know how they got all the entrenched landowners to let new builds in their neighborhoods and drive down values. The NIMBYs are usually the problem.

Re: San Diego rents declined following surge in supply

#6

Post by Detrytus »

fhdkweig wrote: post #5
dmitrygr wrote: post #2

Increase in supply lowers equilibrium price? Somebody, pinch me!

That part is the obvious part. I want to know how they got all the entrenched landowners to let new builds in their neighborhoods and drive down values. The NIMBYs are usually the problem.

Well, once you loosen up building codes to allow apartment buildings instead of single family homes then suddenly the developers will come with a lot of cash to buy those homes from NIMBYs. And cash is always convincing.

Re: San Diego rents declined following surge in supply

#7

Post by mothballed »

fhdkweig wrote: post #5
dmitrygr wrote: post #2

Increase in supply lowers equilibrium price? Somebody, pinch me!

That part is the obvious part. I want to know how they got all the entrenched landowners to let new builds in their neighborhoods and drive down values. The NIMBYs are usually the problem.

Maybe renters were such a crazy high percent that despite the fact they were all wrapped up in their jobs and children vs retirees with nothing else to do in their $1M house than show up to meeting to influence the political apparatus they they still finally balanced out at the planning and zoning meetings.

Re: San Diego rents declined following surge in supply

#9

Post by mothballed »

ivewonyoung wrote: post #4
dmitrygr wrote: post #2

Increase in supply lowers equilibrium price? Somebody, pinch me!

A mainstream view on one side of the political spectrum that increase in new home supply(especially if high end) does not lower prices or reduce shortage. > One well-worn refrain of progressive urban politics is that new, “luxury” housing will not help solve the housing shortage. A 2024 study of U.S. voters found that 30 to 40 percent believed more housing would, instead, increase prices, and another 30 percent belie…

You can make $100-200k in 'easy' profit where I live by dropping the cheapest manufactured home on a plot. If you live in a place that allows it, I don't understand why people don't do it. I literally got a ~270k house for under $100k by being willing to be the guy the develops the plot. The actual house was laughably cheap, like 60k, there is a burnt out house dressed up in new paint selling next to me for like $300,000 and someone will snatch it up shortly.
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