John Arnold points us to this table on new apartments and pointedly notes that the population of LA (18.5 m) is more than 7 times that of Austin (2.5m).
MR readers will not be surprised to learn that apartment prices are falling in Austin.
Meanwhile the WSJ reports another shocker, New York’s Airbnb Crackdown, in Force for Two Years, Hasn’t Improved Housing Supply. But guess what has happened? Ok, you don’t have to guess. Hotel prices have increased:
Hotels tend to benefit from tighter Airbnb restrictions, especially in New York City. Significantly reducing the number of apartments that can be rented for less than 30 days undeniably boosts demand for hotel rooms in a city visited by tens of millions of tourists a year.
Without the law, “we would be in a catastrophic situation,” said hotelier Richard Born, who owns 24 hotels across the city.
The post Housing 101 appeared first on Marginal REVOLUTION.
Creative Destruction in a Nutshell
A good figure from the Nobel Prize Foundation’s Scientific Background to the Mokyr, Aghion and Howitt Nobel. The figure shows...
Democracy and Capitalism are Mutually Reinforcing
Many people argue that democracy is incompatible with capitalism but they differ on whether democracy will kill capitalism or whether...
Ian Smith’s memoir *Bitter Harvest: The Great Betrayal*
Yes he used to run Rhodesia, and yes it is costly to buy this book because no one wants to...
The ai Boom
The tiny country of Anguilla (pop 15,000) has an official country top-level domain code for the internet of .ai. Domain...
