Supply and demand apply to housing

I hope everyone had a wonderful weekend. I sure as hell did. My lady Cynthia was in town and we had a BLAST. Photographic evidence here.

I love to tell the story of how we met. I had just started working at Reason and she walked up to me and said, “Everyone here has an attitude problem except for me. Let me know if you need anything.” It was the first of many, many times she’s been right on the money.

Speaking of being right, turns out supply and demand also apply to housing!

“An investor-led building boom has almost doubled the size of the Sydney apartment rental market in two years, forcing landlords to drop rents more than $100 a week in some areas,” writes Nigel Gladstone. Link via The Frisc’s Anthony Lazarus. Just another example. At Shelterforce, Rick Jacobus writes: “At the regional scale, there seems to be wide agreement and strong evidence showing that more building leads to lower average rents.”

Today was rough. I was nervous about my first GRE prep online class. I kept imagining myself back in school, unable to keep up with the other kids in math class and feeling stupid and embarrassed. I spiraled a bit, until I was crying in the shower about how I’m too unhappy and bringing everyone around me down.

Then, I missed the entire class except for the last 30 minutes because I had written down the EST time and not the PST time.

But, despite these setbacks, the recording will be up tomorrow and I’ll watch it then. I feel proud of myself for trying to go to the class even though I felt intimidated.

I’m currently working on a piece about retail vacancies. Stay tuned for that one. And have an amazing week.

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