This is a strong paper. I read it carefully. Those pushing hard for more supply (I’m one) need to take it seriously. I think the time horizons are not perfect and you can quibble with other causal linkages here, but this should be part of the conversation on supply.https://twitter.com/yfreemark/status/1090275863688605696 …
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Replying to @mc_lens @kimmaicutler
It's indeed important and relevant. If density drives UP property values it doesn't mean more affordability.https://48hills.org/2019/01/yimby-narrative-wrong/ …
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But your alternative is just to keep things low zoned and maybe at best like add a few hundred BMR units a year as overall property values (and resulting rents) still double every economic cycle.
8:03 PM - 29 Jan 2019
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