don't disagree with any of Robert Shiller's facts here, but this type of analysis is largely irrelevant for humans http://nyti.ms/29DAPg6
I mean, it all gets priced into land. But HK is 50% public housing, no?
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land-use change "all gets priced into land": know of any good studies on when/how that is true?
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also, are you implying that b/c priced into land, land-use change can't address affordability?
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1) I mostly tend to agree but I'm not a fundamentalist on 'the law of rent'. 2) Ya, ~50%
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One could argue that social housing skews metric in either direction. I'm not sure.
@tmccormick @TruliaRalph@JoshZumbrun
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