dlakelan OP , 1 month ago

@economics-that-works

There's also a post waiting in moderation where I link to this dimensionless version of the housing longevity graph: https://fred.stlouisfed.org/graph/?g=1nVOl

This is Population / (k * housing_starts * house_longevity) where k = 2.5 people/house and house_longevity is a number near 80 years... The steady state was probably about right at just below 1.0 and the entire time since 2006 or so it's been above 1.0 up to about 3.0 meaning we are losing houses per person on net.