Well, to be fair.....pic.twitter.com/G7mt9moKuE
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Fallibilist, optimist. Stripe CEO.
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Well, to be fair.....pic.twitter.com/G7mt9moKuE
You're joking, right? Population doesn't give us the supply curve in a locality. @Noahpinion
Patrick Collison Retweeted Patrick Collison
See this + previous:https://twitter.com/patrickc/status/767487087117529088 …
Patrick Collison added,
Fair enough. (In Seoul & Singapore, demand still exceeds supply. Zero evidence that rents would be lower if they *hadn't* built.)
I think it likely would be. Look at rent in the small cities that aren't Seoul or Singapore!
But those other cities have much lower demand for exogenous (non-population-related) reasons!
See my other replies :-). You could certainly argue answer to my question is "yes". I think that's tough case but who knows.
It seems pretty clear that Singapore has pursued distinctive policies (quite apart from housing) that have driven its growth.
Oh, for sure. Population growth necessary but certainly not sufficient.
OK. I think we're actually in agreement here. I just think that present population is a misleading variable to focus on alone.
a corollary is that most people live in places where prices have historically outperformed real estate as a whole.
How much of that is an effect of the urban/non-urban split? What you restrict to urban areas above a certain population?
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