I made a chart showing 2019 home permits/10k residents in 20 major metros. As you'll see, their construction rates determine whether they have moderate or very high home prices.pic.twitter.com/hWJ5Oxi9k2
That's not right. It's supply and demand that determines home prices, not housing permits/population, which is not supply and demand. As an example, Austin's median home price 390k. Atlanta, much lower on the list, is 284k.
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There's not any one metric that will totally explain things.
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