A guy just transcribed 30 years of for-rent ads. Here’s what it taught us about housing prices
Michael Andersen
3.3K222

Oh other things; If development doesn’t bring down this rate, it can’t continue. Anyone that has been in San Francisco for awhile or read up on it realizes the city may still be functioning with decades of absurdly increasing prices, but it has destroyed the core nature of the city and only a husk remains. There will be a breaking point (and it might be soon) where the cost of living is actually so high it damages the economy in a way that forces mass unemployment. It will be seen where all the poor and middle class are effectively driven from the city, but the jobs are still necessary, so they will have to pay massively more to get people to commute from other towns every day. At some point the prices will become untenable. The cost of employment will preclude profit, and even the wealthy will start to feel the pain. Then you’ll see mass unemployment. Rent prices will crash. San Francisco will die. All because the city won’t let housing be built faster.

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