Daniel Herriges

From one piece Shortages and Spillovers: How People Misunderstand the Housing Crisis 5 beliefs, in the piece's order there

• Our readingkorrents.com

  The single biggest barrier in the housing market is that most neighbourhoods are legally forbidden to add any housing at all.

  Their words

  The biggest barrier of all, of course, is that the majority of neighborhoods are not allowed to add any housing at all.

  strongtowns.org

• Our readingkorrents.com

  How dense a neighbourhood ought to be is a moral and political argument, not an empirical question with a discoverable right answer.

  Their words

  But understand that it’s ultimately a moral and political argument, not an empirical question of the ideal population or the exact level of housing demand in Santa Monica.

  strongtowns.org

• Our readingkorrents.com

  Housing demand that a neighbourhood is not allowed to absorb does not disappear; it floods somewhere else, and that is what a housing shortage actually is.

  Their words

  So, when housing demand can’t be met in a given place, it doesn’t evaporate. It spills over. It goes somewhere.

  strongtowns.org

+ 2 more

• Our readingkorrents.com

  Building a lot of housing in an expensive city will not lower rents there; it lowers them in the cheaper places that were absorbing its spillover demand.

  Their words

  In fact — and this is a point that is, in my opinion, underappreciated by the pro-housing side — building a bunch of housing in Santa Monica would probably not lower rents in Santa Monica. It would bring more people to Santa Monica, creating lower rents elsewhere in Greater Los Angeles as the spillovers from Santa Monica lessened.

  strongtowns.org

• Our readingkorrents.com

  Rents rise when vacancy is low and stabilise when vacancy is high, which makes the vacancy rate the housing metric that actually predicts prices.

  Their words

  Empirical data drawn from many different regions clearly shows that, on a metropolitan scale, rents tend to rise when vacancy rates are low and stabilize when vacancy rates are high.

  strongtowns.org

From one piece There's No Such Thing as Affordable Housing 4 beliefs, in the piece's order there

• Our readingkorrents.com

  Most affordable homes are not demolished, they are repriced: units move between price tiers without anything physical changing, and that dwarfs new construction.

  Their words

  These shifts in price without any physical change to the housing stock are by far the biggest part of the affordability story. They dwarf the impact of actual new construction.

  There's No Such Thing as Affordable Housingstrongtowns.org

• Our readingkorrents.com

  Affordability will be decided by what happens to the price of the homes that already exist, not by how many new ones get built.

  Their words

  Affordability for the masses will live or die not by what we build this year or next, but by what happens to the price of homes that already exist, in which the vast majority of people live.

  There's No Such Thing as Affordable Housingstrongtowns.org

• Our readingkorrents.com

  Affordability is not a property of a building; it is a price set in a transaction, so there is no such thing as affordable housing, only affordable prices.

  Their words

  Because affordability is not, and has never been, an intrinsic quality of a building.

  There's No Such Thing as Affordable Housingstrongtowns.org

+ 1 more

• Our readingkorrents.com

  Housing affordability is almost the direct inverse of how many new homes are built, so the answer is to build more houses.

  Their words

  Adding chairs to the game—any kind of chairs—will tend to make the competition less cutthroat for the chairs already in play.

  There's No Such Thing as Affordable Housingstrongtowns.org