https://fred.stlouisfed.org/graph/fredgraph.png?g=ekXr
https://plus.google.com/104092656004159577193/posts/Akjfruv9...
San Francisco rents over 70 years, showing a 6.6% annual rate of increase.
https://medium.com/newco/a-guy-just-transcribed-30-years-of-...
6.6 percent is 2.5 percentage points faster than inflation, which doesn’t seem like a lot but when you do it for 60 years in a row it means housing prices quadruple compared to everything else you have to buy.
That’s bad. But that’s SF today, compared to 1956. So what caused prices to go up? That’s the really exciting part of Fischer’s discovery. Armed with his data, he more or less answered that question....
It would take a 53% increase in the housing supply (200,000 new units), or a 44% drop in CPI-adjusted salaries, or a 51% drop in employment, to cut prices by two thirds.
Why the increase? Asset price inflation of Maslovian goods.
https://www.reddit.com/r/dredmorbius/comments/608w97/asset_p...