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eigenrobot.substack.com
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    1. MyBackyardParadise‏ @MyBackyardPara1 Aug 12

      The “law” of supply-and-demand does not apply to housing markets for a simple reason. Investors prefer the profits produced by expensive housing over the financial losses guaranteed when they build low-priced housing. Q & A on CA State Senate Bills 9 & 10https://citywatchla.com/index.php/cw/los-angeles/22286-rolling-out-the-red-carpet-for-real-estate-investors-q-a-on-ca-state-senate-bills-9-10 …

      33 replies 7 retweets 31 likes
      eigenrobot‏ @eigenrobot Aug 13
      Replying to @MyBackyardPara1

      i was last employed as a housing economist and this doesnt make any sense hth

      3:54 PM - 13 Aug 2021
      • 38 Likes
      • New_OKɴᴀᴏᴍɪ (heiress ᵒᶠ ᴏᴋᵘˡᵗʳᵃ ᵖʳᵒʲᵉᶜᵗ) NLRG Loves Recursive Guises spooky sofia 🧡 David Binnig Arthur G.P. 🧦🔰🥑 (LVT+VAT+FAT) Kevin Smith 🥩 Daniel Eth💡 Erik Winther Paisley midwit magnet
      3 replies 0 retweets 38 likes
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        2. "Insufficient Gravitas" Barnaby‏ @B_Barbarian Aug 13
          Replying to @eigenrobot @MyBackyardPara1

          There are kernels of truth in here, but yeah, this is part of the anti-market solutions mental gymnastics that reject any actual effective change in zoning, urban policy.

          1 reply 0 retweets 5 likes
        3. "Insufficient Gravitas" Barnaby‏ @B_Barbarian Aug 13
          Replying to @B_Barbarian @eigenrobot @MyBackyardPara1

          Property owners (both owner-occupied and rental) prefer that housing is kept rare, expensive, and exclusive, because that keeps their assets and incomes up. This is the real dirty secret of why SF home owners oppose zoning reform, they are counting on insane appreciation.

          2 replies 0 retweets 4 likes
        4. Show replies
        1. Joe's Home Owners Association and Cult‏ @JoesHOAandCult Aug 13
          Replying to @eigenrobot @MyBackyardPara1

          I'm reading it as "No one builds affordable housing in CA because they can make 10x more expensive homes on the same lot"

          0 replies 0 retweets 1 like
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        1. New conversation
        2. Rush the House‏ @RushTheHouse Aug 13
          Replying to @eigenrobot @MyBackyardPara1

          Assuming for the moment that there is high demand at all levels of income, wouldn't investors choose what returns the most profit? Assuming whatever they build will sell quickly. In California, I think this is somewhat true for the suburban areas and key cities?

          2 replies 0 retweets 1 like
        3. Jimmy Scrambles  🤠 🇨🇦 🌊  🏔️ 🚉 🦞‏ @RazzberryYams Aug 14
          Replying to @RushTheHouse @eigenrobot @MyBackyardPara1

          At the moment sure, but the number of developers is not fixed, and if there is profit to be made at the low end there will be development. Also, richer people move out of a place when they move into a new one, increasing the stock of more affordable housing.

          1 reply 0 retweets 0 likes
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