As a coda to our conversation from last week http://www.vox.com/2016/8/8/12390048/san-francisco-housing-costs-tokyo … This really isn't rocket science
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Replying to @mdweinberg
Rocket science is a useful metaphor, but I think it applies to your perspective better than mine. You're saying the housing...
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Replying to @DarwinBondGraha @mdweinberg
…crisis all boils down to an equation: "UGBs + NIMBYism = undersupply = high prices and hence growth in CV?"…
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Replying to @DarwinBondGraha @mdweinberg
I don't think equations or subsuming everything into economic logic explains what's happened. Causes are complex & political.
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Replying to @DarwinBondGraha
Not subsuming only to economics, NIMBYism, UGBs, etc. are political but constraint on supply = high prices is basic fact
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Replying to @mdweinberg @DarwinBondGraha
Do you actually disagree that supply restrictions + higher demand =higher prices? Or are you just being contrarian?
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Replying to @mdweinberg
I agree that supply isn't matching demand. But I don't agree that the major cause of supply constraint is "NIMBYism".
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Replying to @DarwinBondGraha @mdweinberg
also helps to not just read one vox explainer http://www.japantimes.co.jp/news/2016/01/25/business/economy-business/boj-fueled-tokyo-property-boom-pricing-average-earners-housing-market/#.V6jXr1RHanM …
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Replying to @tigerbeat @DarwinBondGraha
Yes, which all of us have done, thanks; the piece you link to emphasizes importance of mkt forces, tho
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Replying to @mdweinberg @DarwinBondGraha
market forces which provide housing for the rich, but not for middle and low income
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"market forces" did fine at middle income housing for decades until the most recent cycle or two
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