Tokyo builds more housing than the entire state of California and housing is a depreciating asset. Tokyo's population has risen more than most major U.S. cities like New York and San Francisco. De-commodification or not, supply is an *strong* factor in affordabilityhttps://twitter.com/geographyjim/status/1113328661581766656 …
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@markasaurus 's annual development cost calcs put land acquisition at about 20% of the unit cost on mid-rise development in San Francisco. I mean ,you could cut land costs in half and you still wouldn't be able to profitably build $1,000/month rentals. -
how much of labor's wages are effectively reabsorbed back into land via the rents/cost of housing they have to pay?
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I’m glad you said this because when I say it everyone yells at me
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