“Housing Roundup #9: Restricting Supply” by Zvi

I’d split the latest housing roundup into local versus global questions. I was planning on waiting a bit between them.

Then Joe Biden decided to propose a version of the worst possible thing.

So I guess here we are.

What is the organizing principle of Bidenomics?

Restrict Supply and Subsidize Demand (1)

This was the old counterproductive Biden proposal:

Unusual Whales: Biden to propose $5,000 credit for first-time home buyers, per WaPo.

The Rich: House prices about to go up $5,000 everywhere.

Under current conditions this is almost a pure regressive tax, a transfer from those too poor to own a home to those who can afford to buy one, or who previously owned one and no longer do.

If there were no restrictions on the supply of housing, such that the price of a house equalled the cost of [...]

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Outline:

(00:24) Restrict Supply and Subsidize Demand (1)

(08:55) Restrict Supply and Subsidize Demand (2): Rent Control

(16:57) You Should See the Other Guy

(21:18) Stop Restricting Supply

(23:21) All Supply is Good Supply

(26:53) ‘Inclusionary’ Zoning

(28:37) The Worst Take

(33:27) Where and With Whom People Want To Live

(36:44) Matching

(39:58) Universality

(41:42) The Value of Land

(43:52) The Doom Loop

(51:05) How Are Sale Prices So Out of Whack with Rents and Income?

(52:18) Questioning Superstar Status

(54:47) Window Shopping

(58:18) Minimum Viable Product

(01:00:53) Construction Costs

(01:02:57) Elevator Action

(01:11:09) Housing Theory of Everything

(01:13:07) Zoning By Prohibitive Permit

(01:14:55) YIGBY?

(01:15:24) The True NIMBY

(01:16:45) The Definition of Chutzpah

(01:18:23) In Other Housing News

(01:18:53) Rhetoric

(01:21:33) Environmentalists Should Favor Density

(01:23:03) Do Not Give the People What They Want

(01:26:05) Housing Construction in the UK

(01:27:25) The Funniest Possible Thing

(01:29:07) Other Funny Things

The original text contained 35 images which were described by AI.

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First published:
July 17th, 2024

Source:
https://www.lesswrong.com/posts/sX5ANDiTb96CkYpxd/housing-roundup-9-restricting-supply

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Narrated by TYPE III AUDIO.

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