Pulling the housing affordability debate out of the theoretical clouds at Pacific Standard magazine.
Theme: Housing affordability geography.
Subject Article: "Recent Owners’ Equivalent Rent Inflation Is Probably Not a Blip."
Other Links: 1. "Fleeing New York and San Francisco for ‘Cleveland’."
2. "Housing Affordability and Supply Side Economics."
3. "Demographics: 1; Gentrification Hysteria: 0."
4. "Gentrification: white people following white people."
5. "Where Have All of New York City’s Small Builders Gone?."
6. "Affordable Housing: Geography of Supply and Demand."
7. "Superstar Neighborhoods and the Concentration of Wealth."
8. "Turning Real Estate Market Fundamentals on Their Head."
9. "Superstar Cities."
Postscript: One of the conclusions from the Cleveland Fed analysis of Owners’ Equivalent Rent (OER) inflation, "High vacancy rates do not appear to slow OER inflation down appreciably". That's not a ringing endorsement for increasing housing supply in order to make rents more affordable. Theoretically, increasing supply makes sense. Practically, it may not work. The Fed's analysis is hardly definitive. It still beats the unfounded policy suggestions coming from supply-side ideologues.