Has housing cost grown as a percentage of income because other things became cheaper? Or because we made it increasingly more expensive to build via regulation and planning processes? Or because it was financialized to ever greater degrees? - ThreadSky

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jasoncoxnc.bsky.social • 78 days ago

Has housing cost grown as a percentage of income because other things became cheaper?

Or because we made it increasingly more expensive to build via regulation and planning processes?

Or because it was financialized to ever greater degrees?

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alecdmi.bsky.social•78 days ago

Yes.

But relative to other things is a good reminder how bad construction in the US continues to lag in productivity gains relative to all other manufacturing - see rules and bespoke regulations mentioned above

jasoncoxnc.bsky.social•78 days ago

Veto vote in the hands of market incumbents is not great for supply

erik45824291.bsky.social•78 days ago

It’s because we have never built enough housing, outside of the post world war 2 housing boom. When you look at home ownership by age by generation, the ww2 vets are the peak, then each subsequent generation has been lower. The lesson is, it only stays affordable with massive govt backed building.

jasoncoxnc.bsky.social•78 days ago

Argument to be made that it could also be offset by regulatory reform. Specifically zoning and how the public input process functions in planning.

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