Hyp: when urban residential real estate becomes 1% speculation/capital storage asset, 99% must become nomadic
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Replying to @vgr
In this picture seems like AirBnB has to be a net good. Acts like a derivative instrument to reliquefy unused stock for partial local value
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Replying to @vgr
Thought experiment: you only allow ownership with no capital controls stopping remote ownership. And no AirBnB. Cities would necessarily die
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Replying to @vgr
i'm not so sure; most US cities have homeownership rate of 60%-70% . presumably some renters are choice so can afford to own
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Replying to @fire__exit
ie the median city is not SF or Seattle. Nobody really cares about BFE median cities.
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Replying to @vgr
LA, NYC, SF, San Jose some of lowest (LA at ~48%, others 50s), and Seattle, DC, Boston, Portland in lower half with ~60%
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Replying to @fire__exit @vgr
(for comparison, Tokyo is ~45%, London 58%, Hong Kong 51%)
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Replying to @fire__exit @vgr
there is an inverse relationship between us city homeownership and "places where things happen" but i'm not sure how much of that
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Replying to @fire__exit @vgr
(sorry, got sidetracked by checking more cities for thoughts and lost what exactly i was going for here, heh)
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Replying to @fire__exit @vgr
vancouver has a 65% ownership rate with severe restrictions on growth; if you relaxed restrictions, even with no new rental units,
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Replying to @vgr @fire__exit
vancouver is in a crazy state of flux right now, just added a 15% tax for foreign buyers
0 replies 2 retweets 1 likeThanks. Twitter will use this to make your timeline better. UndoUndo
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