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Rents fall in most U.S. metros since 2023, demand struggles to match supply

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Re: Rents fall in most U.S. metros since 2023, demand struggles to match supply

#51

Post by 7e »

tiahura wrote: post #18
moron4hire wrote: post #7

Earlier quoted context omitted.

That's... the definition of shortage

Much of the narrative has been that the problem is because nimby boomers won’t allow apartment complexes in single family neighborhoods, there are simply not enough apartments.

No, the problem is that humans breed to fill the supply of housing, causing prices to go up again. The population of the U.S. has doubled since 1960. It’s a never ending cycle, only after every iteration, there is more pollution, less beauty, more greenhouse gasses in the atmosphere, more traffic, etc. It’s not sustainable. The solution is not to build, it is to reproduce sustainably and stop overrunning the planet with unchecked population growth. That implies limits on how much you can ruin a neighborhood with development.

Re: Rents fall in most U.S. metros since 2023, demand struggles to match supply

#52

Post by wenc »

jayd16 wrote: post #5
andsoitis wrote: post #2

what's a good way to reconcile this with the common narrative that there's a big housing shortage?

> Still, she added, rents are about 20% higher than pre-pandemic levels, and consumers remain concerned about their financial situation and job security in recent surveys. When people throw around the word shortage what they mean is "availability at a price I'm willing to pay." Same with labor shortages.

> When people throw around the word shortage what they mean is "availability at a price I'm willing to pay." Same with labor shortages.

Yeah that's actually an incomplete and oversimplified statement. Some people think, "If you want something, just pay more". But that ignores short and long-run supply limits, price frictions, skill matching, and more. The correct Econ 101 version reads:

"A shortage exists when, at the going price, the quantity people want to buy is greater than the quantity suppliers are willing or able to provide—labor markets included."

You cannot expect imperfect markets (i.e. real world markets) to clear simply by raising or lowering prices. Real-world constraints exist.

A simple example is this: Chicago has plenty of cheap, vacant units in higher-crime pockets of the South Side, but few buyers will take them. Meanwhile, exurbs with good schools and low crime have limited inventory because zoning caps and NIMBY politics choke new construction. That mismatch -- ample supply where demand is weak and capped supply where demand is strong -- creates a local housing shortage even though the citywide vacancy rate looks high. Price alone can't clear the market because the constraint is about where units are, not how many exist.

Re: Rents fall in most U.S. metros since 2023, demand struggles to match supply

#53

Post by nh23423fefe »

mitthrowaway2 wrote: post #48
bufferoverflow wrote: post #11

Earlier quoted context omitted.

Except Soviet Union made you work for near slave wages. I would choose NYC over it 100% of the time.

2% of slave wages is actually even more impressive.

explain. if i dont pay my slaves what they are worth, why is it a good deal to take more money from them?

Re: Rents fall in most U.S. metros since 2023, demand struggles to match supply

#54

Post by tehjoker »

nh23423fefe wrote: post #53
mitthrowaway2 wrote: post #48

Earlier quoted context omitted.

2% of slave wages is actually even more impressive.

explain. if i dont pay my slaves what they are worth, why is it a good deal to take more money from them?

Easy: they weren't slaves, that's just anti-communist rhetoric.

Re: Rents fall in most U.S. metros since 2023, demand struggles to match supply

#55

Post by nh23423fefe »

tehjoker wrote: post #54
nh23423fefe wrote: post #53

Earlier quoted context omitted.

explain. if i dont pay my slaves what they are worth, why is it a good deal to take more money from them?

Easy: they weren't slaves, that's just anti-communist rhetoric.

polemic? not explanation.

Re: Rents fall in most U.S. metros since 2023, demand struggles to match supply

#56

Post by bufferoverflow »

tehjoker wrote: post #54
nh23423fefe wrote: post #53

Earlier quoted context omitted.

explain. if i dont pay my slaves what they are worth, why is it a good deal to take more money from them?

Easy: they weren't slaves, that's just anti-communist rhetoric.

They were not allowed to leave. Most of their products of labor was taken. They were slaves.

And yes, I'm against communism partly because of that. It's an awful ideology.

Re: Rents fall in most U.S. metros since 2023, demand struggles to match supply

#57

Post by tehjoker »

bufferoverflow wrote: post #56
tehjoker wrote: post #54

Earlier quoted context omitted.

Easy: they weren't slaves, that's just anti-communist rhetoric.

They were not allowed to leave. Most of their products of labor was taken. They were slaves. And yes, I'm against communism partly because of that. It's an awful ideology.

I think if you are looking for slaves, you should look at American history. What products of your labor do you keep in this country if you are not a business owner?

I am not a fan of all the choices the USSR made, but you are mischaracterizing a society under siege by the capitalist west.

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