unsustainable. and should be unconscionable. almost every pressing social problem can be traced back to the lack of housing supply (of course, some traces are looser than others)
The same can be said about a number of big cities over the past 30 years. Perhaps there ought to be limits of corporate ownership of residential properties and limits to the number any individual (non corporation) can own too. Also, limits to overseas buyers to prevent gentrification by foreign capital flight. Housing should be for real people who aren't billionaires.
That happens-- castillogrande in Cartagena Colombia used to be a bunch of family homes. Now it looks like Miami. China has tried it, but built a little much.
A problem in doing it in other places is location and regulations (e.g., whole areas where high rises are outlawed, or required to have expensive shrubbery, or a certain percentage of units for low income)
Surely it's not so simple when New York City is building more housing supply that essentially any other American city (and has the best public transit system in the nation)
That link you shared is counting the number of units build per 1k existing units.
Given how dense and populated NYC is (aka how many existing units there are), this metric isn't as meaningful. I believe the grandparent comment was talking about the raw number of units.
Actually, go to the bottom of the page you shared and look at the section titled "Full results", then sort by "Total new housing units authorized". Sadly, you will need to do some quick manual work to parse the results, because it sorts numbers as strings rather than as actual numbers. But you can clearly see from there that NYC is #1 in terms of raw numbers of new housing units. And that's data from 2021, and afaik NYC only increased those numbers significantly in the past 4 years.
Sure. What was the rate of homebuilding to job growth in NYC and other major metro areas in the US?
I am not trying to be snarky, I actually agree with you. I just simply don't have that data on hand right now. But I am aligned with you in suspecting that the rate of home building to job growth would be a better indicator of the real housing market change (as opposed to the ratio of new residential units/1k residents or, to a lesser degree, raw numbers of new residential units).
It is even more accurate to consider job growth in terms of income growth. Job growth could very well go negative but if it means replacement of a working population with one of higher income, that also contributes to upward pressure on prices from this high income job growth.
Even worse for the supply side crunch is that this high income population is not like the previous population in the sense that they aren't as sensitive to this given price level. So demand based responses to price increases aren't seen until the prices are truly bewildering due to the amount of disposable income available for some of these workers that could be spent on housing.
Houston in Dallas who can simply expand externally into new land are hardly a proxy for a land real estate constrained city like New York that has to build vertically
And how is their mass transportation going? As if houses alone are all that matters.
What is actually unconscionable is that when the nature and consequences of inflationary money are exposed, the discussion immediately gets shut down. If the people were to understand what real money is, and it is not the national currency, then people would hold it instead of holding the national currency. Hint: real money is things like GLD/VTC/BTC/PAXG/XMR. Secondly, people also are instructed by the consumerist system to spend as much as they earn, effectively to not save or invest. Controlling the narrative about money is how the rich control the poor.
Can you use it for the main uses of money, store value and payment? No, you cannot, because it's very volatile, and very slow and expensive to transact it.
It's as much "real money" as worn t-shirts from sports players are.
The volatility comes with its reward, which is price dips for buying cheaply and price appreciation. Bitcoin Lightning Network is its solution which is cheaper to transact in for those that accept it. Personally I would use Monero for transactions.
