You are attacking a strawman of your own invention, since LVTs have nothing whatsoever to do with Austin.
I'm sorry. Did you say "Tokyo"? THIS Tokyo: https://www.globalpropertyguide.com/asia/japan/home-price-tr... - in a country with _declining_ population?
Or maybe this one - https://www.reddit.com/r/JapanFinance/comments/1ovp3et/price... ?
You folks never cease to amaze.
> Don't bother arguing with economics deniers.
So far, I have not seen a single clear example of a city that decreased its housing prices by building more denser housing.
And yes, I maintain that Austin is not a counter-example. Its population has been at _best_ stagnant, and I believe that it's now declining.
Here's the data for Tokyo rents: https://www.patiencerealty.com/post/tokyo-rents-hit-record-h... - can you point out which period you're talking about? Or admit that you were wrong about mentioning Tokyo?
Austin is the only possible outlier so far. My model predicts that housing prices (sustainably) fall in dense cities only when the population declines, so Austin's population should be declining. There is no data _yet_ to prove or disprove it, the ACS data series will be released in about 1 year. The IRS data will also be available around that time.
However, some proxy data tends to support _my_ viewpoint. The student enrollment in Austin schools has dropped unexpectedly this year.
I'm pointing out that Austin is a great illustrative example of what will happen when you allow density to proliferate.