What the fuck is this linear fit lol
To me this is, to the extent it means anything at all, a pretty strong argument that short supply is not the problem. Which kind of makes sense. The problem is predatory corporate landlords. Build more units, the predatory landlords say “oh sweet” and use some of their Scrooge McDuck pile of money to buy them all up and rent them at inflated prices because they’re “luxury” as new construction. That seems a more likely to me than the other way.
Yeah the graph doesn’t even reference housing construction, right? And even Austin saw a rent increase, just less than other cities.
Not having the axis at 0 on both to distract from rents being artificially higher
I’m sure this graph ic accurate or something but tbh all I can make out is random dots lol
Well, for one thing, the “rent increase” axis starts at 25%
To be clear, it is still insanely expensive in Austin, but this is at least a glimmer of hope.
And the prices keep outpacing wages unless we restrict the ownership of homes to people who live in them
Too bad it is all being used for AirBNBs
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Where does this graph show quantity supplied?
The graph doesn’t. The title of the post is stating that Austin was able to avoid rent increases by building more housing.
Where is the evidence for that?
That would be a great question for @The_Picard_Maneuver@lemmy.world
Austin’s recent success in bringing rent costs down after greenlighting a lot of new housing has been pointed to by people in lots of other big cities as proof that it can work.Here’s an article about it.
I just checked the rent in Austin and it’s way higher than it should be.
