Viewing a single comment thread. View all comments

SomeConstructionGuy t1_j7p7rsk wrote

Spot on.

Slow development is partly to blame. Air bnb is partly to blame.

But the huge surge is rental prices is directly attributable to a surge and consolidation in software based rental pricing industry. Basically they’ve realized it’s more profitable to continually raise rents and have large turnover and higher vacancy. These companies (mostly one) manage enough properties that they’ve dragged all prices up.

We’re not actually short on housing nationally by most metrics. Housing construction isn’t lagging by most metrics. Enough cards are held by theses companies that they can manipulate the market. Adding more housing that are managed this way won’t lower rents.

Edit: I know I give you crap on many of your posts, but I fully agree with many of your takes. It’ll take national legislation to sort out the root causes of this issue.

8

HappilyhiketheHump t1_j7pnapc wrote

National legislation cannot fix this.

1

SomeConstructionGuy t1_j7pntkd wrote

What will? Simply encouraging development won’t fix it if most of the new units are owned by huge companies. That’s like trying to lower gas prices by encouraging opec to drill more…

2

HappilyhiketheHump t1_j7q5hbr wrote

Nope. State government is your best shot at a framework that might work.
National legislation will only make things worse as square pegs don’t fit into round holes.

2

SomeConstructionGuy t1_j7s9myp wrote

I don’t see how Vt state government can address the massive consolidation in algorithmic rental pricing. They don’t have the reach or power. Sure they can address smaller issues such as short term rentals and barriers to development, but those arent the main drivers of the broader housing issues.

I still maintain that it requires regulation of corporate landlords and their pricing practices. That’s an issue for national legislators.

2