> If they added a quarter million homes, do you think they would still be short another quarter million homes?
Not in this market, haha. The number was based on the quantity of houses added vs the quantity of jobs added in SF and the surrounding area. (From [1]: "For example, from 2012 to 2016, the San Francisco metropolitan area added 373,000 new jobs, but permitted only 58,000 new housing units") But over time? Maybe.
> Apartment prices in dense cities don’t drop?
There are very few cities where supply of housing is allowed to meet demand for housing - but as I mentioned, Japan is a great example. Japan hasn't seen an increase in the cost of housing since edit: [1995, not 1990 as I mistakenly claimed in GP post]. [2] Compare to the US. [3] What happens is that they stop going up in price.
Not in this market, haha. The number was based on the quantity of houses added vs the quantity of jobs added in SF and the surrounding area. (From [1]: "For example, from 2012 to 2016, the San Francisco metropolitan area added 373,000 new jobs, but permitted only 58,000 new housing units") But over time? Maybe.
> Apartment prices in dense cities don’t drop?
There are very few cities where supply of housing is allowed to meet demand for housing - but as I mentioned, Japan is a great example. Japan hasn't seen an increase in the cost of housing since edit: [1995, not 1990 as I mistakenly claimed in GP post]. [2] Compare to the US. [3] What happens is that they stop going up in price.
[1] https://en.wikipedia.org/wiki/San_Francisco_housing_shortage
[2] https://fred.stlouisfed.org/series/JPNCPIHOUAINMEI
[3] https://fred.stlouisfed.org/series/CPIHOSNS