Excellent piece!
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Thanks Alex
কথা-বার্তা শেষ
নতুন কথা-বার্তা -
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In addition to Tokyo, a few other examples of cities that have stayed affordable in the face of increases in demand include Houston, NYC before its 1961 zoning code, and San Francisco after the earthquake/fire through ~the 1970s.
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Paul Groth's Living Downtown is a great book on what housing looked like when landlords were allowed to provide housing for the bottom end of the market. His focus in on SF.
কথা-বার্তা শেষ
নতুন কথা-বার্তা -
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The agglomeration value cannot increase monotonically forever; at some point everyone will be packed together like sardines. So in theory it should be possible to break through to the affordability on the other side.
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Sure, but why can’t the market equilibrium be at a place where the demand curve slopes up (albeit less steeply so than the supply)?
কথা-বার্তা শেষ
নতুন কথা-বার্তা -
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How small are the apartments in Tokyo? Trying to compare them with Paris, Stockholm, and Basel, all of which have smol studios.
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In addition to raw square footage, don't Japanese apartments tend to more consistently have floorplans that try to be smart/efficient about using the available square footage?
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I know in the US 500-600 sq ft can vary a TON in terms of how it actually feels (e.g. is a ton of space wasted on the kitchen area), for example.
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I have no idea. I'm comparing Japan with Western Europe specifically because of the prevalence of microapartments here and not in the US.
কথা-বার্তা শেষ
নতুন কথা-বার্তা -
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Agglomeration increases productivity which would (in theory) affect wages. So real cost of living might stay the same in the face of housing price increases. Also, might be useful to distinguish between new demand from expansion, and latent demand already existing.
ধন্যবাদ। আপনার সময়রেখাকে আরো ভালো করে তুলতে টুইটার এটিকে ব্যবহার করবে। পূর্বাবস্থায়পূর্বাবস্থায়
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Great piece on the two reasons for YIMBY! In the SF bay area, the agglomeration effects are caused by **good jobs**, not by housing. With to the regional jobs/housing imbalances, agglomeration effect of new housing will limited to local amenities like retail, etc.
ধন্যবাদ। আপনার সময়রেখাকে আরো ভালো করে তুলতে টুইটার এটিকে ব্যবহার করবে। পূর্বাবস্থায়পূর্বাবস্থায়
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Great article! Inverting this is useful: NIMBY objections are the mirror image of the two effects. Both objections need to be handled separately
ধন্যবাদ। আপনার সময়রেখাকে আরো ভালো করে তুলতে টুইটার এটিকে ব্যবহার করবে। পূর্বাবস্থায়পূর্বাবস্থায়
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Thank you. This is good. You might be interested in our study of spatial economics (sorry only summary online: http://dev.createstreets.com/front-page-2/campaigns-copy/beyond/ …
ধন্যবাদ। আপনার সময়রেখাকে আরো ভালো করে তুলতে টুইটার এটিকে ব্যবহার করবে। পূর্বাবস্থায়পূর্বাবস্থায়
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These are important issues. Thank you for bringing them to light. I’m going to be thinking about them a bit.
ধন্যবাদ। আপনার সময়রেখাকে আরো ভালো করে তুলতে টুইটার এটিকে ব্যবহার করবে। পূর্বাবস্থায়পূর্বাবস্থায়
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Thanks for the article, really enjoyed it! Not sure how it's modelled in the literature, but I wonder if it's useful to model agglomeration as basic supply and demand, but as an external force that shifts the curves.
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E.g. supply increases -> demand shifts right due to increased quantity from supply -> increase in demand leads to further demand increases due to agglomeration, but these increases get smaller and smaller. Not sure what the force is making demand shifts smaller though.
কথা-বার্তা শেষ
নতুন কথা-বার্তা -
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It feels like there's a counterforce to agglomeration: people's dislike of crowds. It may be that demand is so high that is simply changes the mix of the city (for each person who moves out when it gets crowded, someone else moves in) - I haven't thought enough about it.
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It just tickled my skepticism to hear about increased density being only positive, especially considering the NIMBY POVs these conversations usually revolve around.
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That's kinda already captured in the model though, as it just means the agglomeration coefficient isn't as large as it might otherwise be if some people didn't dislike overcrowding. It still seems intuitive that the coefficient is positive and more people begets more people.
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In short, it's that old joke: "Nobody goes there anymore. It’s too crowded."
কথা-বার্তা শেষ
নতুন কথা-বার্তা -
লোড হতে বেশ কিছুক্ষণ সময় নিচ্ছে।
টুইটার তার ক্ষমতার বাইরে চলে গেছে বা কোনো সাময়িক সমস্যার সম্মুখীন হয়েছে আবার চেষ্টা করুন বা আরও তথ্যের জন্য টুইটারের স্থিতি দেখুন।