Category: Supply

In a phrase, slow supply asphyxiation

27 December, 2016 (09:00) | Apartments, Boojum, Demand, Housing, Markets, Ownership, rentals, Speculation, Supply, US News, Zoning, zoning-by-taste-police |

  By: David A. Smith   When water doesn’t flow downhill, we may reliably infer the existence of a catchment even if we can’t see it.  When markets don’t respond to sustained economic pressure, we may reliably infer the existence of barriers.    A while back, I caught a Wall Street Journal squib (December 16, […]

No new housing, no new jobs

18 August, 2015 (10:00) | Affordability, Apartments, Cities, Development, Development economics, Economic development, Essential posts, Housing, London, Supply, Theory, Zoning |

By: David A. Smith Want more jobs in your community?  Add more affordable housing. That’s not just logic, it’s also supported by evidence, and reported in The Economist (July 19, 2015): Since the financial crisis, sagging productivity growth has given politicians and economists alike sleepless nights.  In America productivity has risen by just 9% since […]

Better off vacant: Part 2, No more sledgehammer risk

29 July, 2013 (12:03) | Apartments, Appraisals, Markets, New York City, Policy, Politics, Real estate taxes, Regulation, Rent control, Rental, San Francisco, Supply, Theory, US News |

[Continued from yesterday’s Part 1 .]   By:David A. Smith   Yesterday’s post introduced us to landlord-turned-rental-dropout Scott James, whose New York Times Op-Ed (June 7, 2013) described his disillusionment with being a landlord crystallizing when the City of San Francisco told him, in so many words, that his property was more valuable with its extra […]

Better off vacant: Part 1, One reason for the shortage? Me

26 July, 2013 (10:00) | Apartments, Appraisals, Markets, New York City, Policy, Politics, Real estate taxes, Regulation, Rent control, Rental, San Francisco, Supply, Theory, US News |

By:David A. Smith     We humans can be so set in our ways that it often takes either juxtaposition or absurdity to reveal the contradictions between (say) our stated principles and our actual decisions, but fortunately New York’s dueling papers provided the raw material for just one such, with (unexpectedly) a New York Times […]

Scafflaws: Part 2, everybody knew the cameras were there

24 April, 2013 (09:00) | Affordability, Building, Cities, Construction, Development, Law, New York City, Safety, Structures, Supply, Zoning |

[Continued from yesterday’s Part 1.]   By:David A. Smith   How safe, whose responsibility, and at what price?   Yesterday’s post,, based on an article from Crains New York (March 12, 2013),  explored a little-known but large cost of construction in New York properties – the judicial standard of absolute liability that has the effect […]