It's bc inventory is half of what it was a few yrs ago. In PA, a city of 26K households, only 500 units change hands a year. Ppl don't sell. https://twitter.com/byrosenberg/status/890438534296772608 …
PHX or Seattle, how does that figure in the cashflow? @JedKolko @TruliaRalph
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Complex question. All else equal higher prices/equity should induce resale supply, but cap gains should moderate this effect.
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