A more world-wide search would quickly find counter-examples of low-wage high-price cities like Vancouver, BC.
A more world-wide search would quickly find counter-examples of low-wage high-price cities like Vancouver, BC.
It’s a bit unfortunate that the democratization of knowledge, means that everyone is expected to read an NBER paper.
I think twice when I come across one, since it means a very large amount of time and calories are going to go into understanding it.
The conversation becomes something about what people can talk about, but not the math in the paper, or the supporting documentation or familiarity with the literature.
The entire field is nearly impossible to distinguish from bullshit - fundamentally.
Austin did a great job with opening supply.
https://www.reddit.com/r/yimby/comments/1cxbnq3/yimby_has_ba...
https://therealdeal.com/texas/austin/2024/05/20/austin-forge...
I went to school in Austin back in 2009 and surprisingly, rents for my same college apartment only grew a few % a year since then! Crazy