Global warming, human-caused climate change!

[freeloader]

Where, exactly, is the crisis?  I would love to have a 3 bedroom on around the twentieth story of a mid-century building overlooking Central Park West, but I cannot afford it. I have a very nice home in a mid-sized city in flyover country because I can afford that. Is there a crisis when I cannot buy my dream home?  I don’t think so. Perhaps you do. We can agree to disagree.

There are LOT of houses and apartments available. They just tend to be in places where people don’t want to live.  And, yes, they may be far from the places that have the most jobs.

If there is a “crisis”, it is a crisis in the market to produce enough highly desirable units cheaply enough so that people can engage in what you, dfrecore, pretty well note is speculative buying. Again, I don’t view the temporary inability to meet that demand as a “crisis”. We can agree to disagree.

Is there a shortage in many places?  Of course there is. But a shortage and a crisis are far from the same thing. Scarcity is the engine that drives a market. The housing market has shifted, in many locations, to the demand side the of the supply/demand curve. That much is surely true. But the market will reach equilibrium.