Shut Out: How a Housing Shortage Caused the Great Recession and Crippled Our Economy (Mercatus Center at George Mason University)

Author: Kevin Erdmann
4.2
This Month Hacker News 1

Comments

by yonran   2019-07-17
According to this Vox interview with Jenny Schuetz (https://www.amazon.com/Shut-Out-Shortage-Recession-Universit...).

When Kevin Drum looks at national medians, he entirely misses both of these problems.

by yonran   2019-05-30
The author Alex Danco’s link that supposedly proves that building housing doesn’t improve affordability is a poor review article by Michael Storper and Andres Rodríguez-Pose that is rather thoroughly debunked by their own colleagues Michael Manville, Michael Lens, and Paavo Monkkonen here: https://www.amazon.com/Shut-Out-Shortage-Recession-Universit...), the opposite is true. Credit is the factor that people jump to to the exclusion of rent (and expected rent given the low rate of homebuilding), which is directly related to supply constraints. Housing prices are high in the Bay Area because rents are high; low interest rates did not detach prices from rents.

Yes, there are a lot of factors in the housing market if you want to get deep in the weeds. But in my opinion, attempts to elevate second and third order factors to avoid dealing with the first-order factors of supply and demand are sophomoric.