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.
By John Freedman, Andrii Bondarenko, Iryna Harets, Laura Cahill. Russia’s full-scale invasion of Ukraine is…
What a week for the Rangers organization. After a masterful week by Chris Drury, the…
Bitcoin’s realized profit and loss ratio has fallen to a 43-month low of -0.35, a…
Based on the cult web series Nirvanna the Band the Show, the film stars director…
America the Beautiful, 250 years! - Marginal REVOLUTION Thank-you! You've been successfully added to the…
As AI transforms every aspect of our lives, equipping students with AI literacy is no…