A guy just transcribed 30 years of for-rent ads. Here’s what it taught us about housing prices
Michael Andersen
3.4K222

fascinating

"It’s a chart that almost perfectly predicts the San Francisco housing market using only three variables:

  1. The number of jobs located in San Francisco County.
  2. The number of places in San Francisco County for people to live.
  3. The total amount of money that is paid to everyone who works jobs in San Francisco County.”

It would have seemed like a good guess anyway withot the data to support it. It would be fascinating to see a similar analysis for other cities. In London we are gettin a lot of “it’s the fault of buy-to-let” and “it’s the fault of all those foreign investors” — but maybe it’s more simple!

I live in a town (city) just outside London where we are debeting destroying the rural areas (green belt) — part of the rationalisation of the need for more houses is to create more jobs for the people that live here — but this argues that it creates more demand and thereby keeps the prices high.

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