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Neural Foundry's avatar

Solid curation, the CoStar housing data is particualrly sharp because it directly contradicts what most urbanists assume about luxury development. The correlation between construction volume and rent declines is basically empirical proof that supply actually matters, which sounds obvious but gets buried under NIMBYism constantly. I remmeber when Austin started allowing more highrises everyone said it'd just make things worse. Turns out filtering theory actually works when you let markets do their thing.

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RH's avatar

I appreciate the optimistic news you provide. But I recently moved out of the Phoenix metro area because the quality of life in the city has significantly deteriorated over the past 10 years. Yes, a lot more apartments have been built. Some say overbuilt. An abundance of less expensive housing has brought an influx of people from Southern California, reducing the quality of life in Phoenix. Phoenix isn't as nice as it used to be, and that's a significant reason rental prices have gone down.

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