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0 sats \ 3 replies \ @Undisciplined 4h \ parent \ on: Questioning the Shortage Narrative: How Small Assumptions ReW the Housing Story econ
Sure, but that's not a shortage
I'm fine with the colloquial term... I don't know what
Q_D > Q_S
looks like in real life, or how we'd even know, because Q_D
would be unobserved in that instance.I guess we can detect it with the presence of non-price based allocation mechanisms, like lotteries, lines, etc. But with a market as heterogeneous as housing, I'm not sure how easy that is to observe.
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That's fair, and I don't generally mind colloquial terms either.
I just wanted to know how I'm supposed to interpret the statement. Seems like it boils down to "3.7 million fewer homes than some bureaucrat thinks there should be."
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Yeah, pretty much. And then people bandy about these numbers as if they were gospel truth. Which is annoying.
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