How much is “building like crazy”? At any given time in the last 15 years you could point to plenty of construction around Portland and find people (me included) saying “they’re building like crazy!” But in reality we aren’t even keeping up with demand most of that time - ThreadSky

cyanescens.bsky.social • 99 days ago

How much is “building like crazy”? At any given time in the last 15 years you could point to plenty of construction around Portland and find people (me included) saying “they’re building like crazy!” But in reality we aren’t even keeping up with demand most of that time

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kane-in-ca.bsky.social•99 days ago

In Phoenix, more than 25,000 units a year for the last 7 years. 2023 was over 35,000 units and 2024 is expected to be even higher. But also some of the highest density of STRs in the country.

infraexplained.bsky.social•98 days ago

25k a year is not building like crazy tbh, phoenix is a multimillion metro area

kane-in-ca.bsky.social•98 days ago

Yes it's a big metro area. The most significant recent change is that the new building is multifamily housing units closer to the metro center, as opposed to the sprawl that occurred from 1990 to 2008.
But the point is, the explosion of STRs also contributes to the housing shortage.

cyanescens.bsky.social•99 days ago

How many people moved to Phoenix over that time period? What percent f that 25k/yr became short-term rentals? I really doubt there’s a market for anywhere near 25k/yr new air b’n’bs there

kane-in-ca.bsky.social•99 days ago

San Diego, for instance has twice as many STRs, driving rents higher.

cyanescens.bsky.social•99 days ago

Sounds like San Diego should build more units then. Keep building until the units stop selling/renting. People will still need a roof over their head long after the profits of running an STR get washed away in the glut of empty units

kane-in-ca.bsky.social•98 days ago

They should, absolutely, but that's not the point. The point is that STR also adds to the shortage of housing.

kane-in-ca.bsky.social•99 days ago

For years in migration was 55-70k a year. I think it’s slowed over the last couple years. There are more than 12,000 STR units in the county. Many think that number is significantly undercounted.

cyanescens.bsky.social•99 days ago

We’d need to know how many family units that 55-70k/year consists of, but if you build 25k units and the average family size is 3, you’re already at a housing deficit that would grow every year. Was there a deficit before this construction wave? You could have been deep in a hole to start with

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