Cities After… The Problems with Supply and Demand in the Housing Market

[@evanw5572]

I think it's not just the affordability of housing that we need to focus on, but also the type (i.e. multiplex/coops/town-houses) and the transportation infrastructure (trains/trams/buses/bike lanes/bike parking). Great video!

[@colel.2808]

Absolutely! We need a serious reevaluation of how we organize our urban environments. Housing is just one critical part of this discussion and it interweaves with other issues like you mentioned

[@falsificationism]

Yes!

[@georgemunoz878]

What a fantastic video explaining the housing market, I didn’t understand it before but now I have a good grasp on it. I will go back and have another listen as there’s so much information to take in in one go. Thank you so much for putting it together for us.

[@4.I.S]

There are so many good points here. I've transcribed parts of your podcast before to include in my video essays in the past and this is no different in its high quality. Thanks for doing what you do.

[@abc21000]

Dear Friend, Superb Analysis 👍 Iam from India and its the same in our metro cities. This leads to a Modern Urban Poverty which is worst than the traditional poverty as wr know. Greed for Profit is a Big Challenge to the Spirit of Humanity itself. Housing is a Fundamental Need for Living a Life of Dignity.

[@presidentrepublic2479]

Who will make our stupid public understand this? They worship politicians like they are god. All politicians are criminals. We are doomed. Nothin good will ever come out of our so called great country

[@janetkight3094]

This guy is great. Thank you

[@williamlathan6932]

I would add how mortgages going from 15 yrs to as high as 50 yrs to accommodate high prices as an issue. Property tax codes that increase "market value" also feed unaffordability. 😢😢

[@tenantsrevolt]

In a deep pocket of the Pacific Northwest, Tenants Revolt is gathering data to decimate Tenant Trafficking and White Collar Crime. While nonprofits extort funds from HUD and silence their tenants into submissive compliance, the most vulnerable populations are living in squalor - often, even extreme danger. We are so grateful for your tutorials and consume them with delight. We are empowered by other communities staging Revolts. Thank you for your solidarity.

[@miguelrobles-duran]

Thank you everyone for watching. I will be visiting the comments section and try to follow up on the insights you bring.

[@DSGLABEL]

At 18:45 you are telling a half truth. Yes there are vacant units. Units not fit for habitation due to changes in code. Or unhealthy materials like lead and/asbestos. Yet the city refuses to allow those Units to be rehabilitated and re rented at a cost that is reasonable for ROI. If you spend $100k to bring an apartment up to code. You need to be able to recoup that cost. And a 15-20 year ROI is absolutely punitive.

[@dmike3507]

This is probably the most important video on all of KZbin. Hope everyone is liking, commenting, & subscribing as this needs to be spread!

[@bernardheathaway9146]

Great work, thank you!!

[@brianellison410]

I think it would be good to address the question of how supply and demand works. Then you can get into how people who have this understanding and have the power and resources can manipulate it. Richard Wolff did address this and I remember the short answer being a biding war, coupled with a control of the supply to ensure a bidding war. Whoever has the most money wins. Good information. Thank you for helping to educate us.

[@rustyshackleford4801]

I love this series, keep up the good work!

[@humptydmt3439]

This makes me so angry, it's tearing me up inside

[@Dan-DJCc]

We could all benefit from and examination of what it is to be a Price Maker and a Price Taker in not only the housing markets but in every market. This approach opens a window onto a party's position in the market illustrating market power relations and understanding how markets are distorted by those with the deepest pockets.

[@Realg401]

Rich people bought all the real estate and we the poor have to struggle and live with peanuts at the kids table while the rich people busy feasting at the table with the grown ups and passing generational wealth

[@jayobannon5359]

That HUD estimate does not take into account the number of people that either have been dropped from the rolls or just quit looking. I would say, from having participated in point in time counts that the estimate is probably off by a factor of 3.

[@krone5]

good commentary sadly a place like NYC could do a moratorium of housing above a certain value, to get more built of less value per your argument. I really want to see the state get involved with some landlord duties, as well as others.

[@peternyc]

Great video. Your analysis of factors that capitalists use to explain the housing crisis should include the ideas of Henry George, and you should put his remedies with all the rest - insufficient. George advocated having a land value tax (and today that includes a tax on all private use of nature). While taxing private use of land and nature, the Georgists also want to eliminate all taxes on income and sales. The next step in the Georgist remedy would be to witness all land owners build on their properties, putting them to their fullest and highest use so as to be able to pay the higher land tax. In a Georgist world, there are no taxes on buildings or any capital. Only on the land value and private use of public resources (nature). The higher the land value tax, the lower the price of the land, because the taxes + price = the total spent. The theoretical goal would be to make taxes so high that land prices would go to zero, which would remove the toxic connection between real estate and banking. I'm not a Georgist, but I know a few. I'm a socialist 100%. I do feel that an analysis of what is wrong with capitalism needs to include Henry George. If a strong case for socialism can be made in spite of George, then the case for socialism strengthens immensely.

[@Robert_McGarry_Poems]

Home prices rise faster than income... Along with college tuition, healthcare in the US, food price gouging, the cost of insurance to drive, electrical and water needs, name something except for wages that doesn't move faster than inflation!

[@peternyc]

Housing is a human right. Plentiful quality housing would instantly put half or more businesses out of business. Labor would become scarce, and the value of capital would go down as a result. Capitalism would no longer have the addictive grip on the minds of citizens. Organizing life around mostly meaningless work only to pay a landlord or banker is insane.

[@iart2838]

Bravo! In case of NYC land on which those towers in Manhattan would never be allocated for affordable housing. In Germany, most rentals are government owned offering affordable rates. Not just to poor people but everyone.

[@DSGLABEL]

Unnecessary regulations at every step. It's not about safety. It's about bureaucrats extracting $$$ at every turn.

[@lukeolson5177]

I'm still just a yellow belt in Marxist economics but you explained the issue well enough that I think I understand why the housing situation is so F'd.

[@amandaelizabeth7943]

Straight up empty.. Wow squatters right! :P

[@daviddestin1990]

I was able to work and put a roof over my head for over 20+ years, I have been homeless twice since 2010. The rents are simply unaffordable. And it looks like I will be homeless again soon, lose everything I own again, and go live in the woods again. I have multiple health issues that include an open hernia, my intestine is outside the abdominal wall. No healthcare (ever). I guess this is MY fault for working as a line cook for 20+ years. It is definitely my fault for believing the LIE that so long as I worked real hard I could provide the basic means of survival for myself.

[@livingitup9647]

I hope you’ll at least look into getting healthcare thru Medicaid, as well as food / SNAP benefits. If your income is low, and depending on your state and county, there are often many different services available. I share these thoughts with, and from, great empathy. Also, have you happened upon all the KZbin channels devoted to nomadic lifestyles? Like the well-known channel, and website resource, by Bob Wells, called CheapRVliving? If not, these resources might inspire some additionally expansive, creative ideas. Don’t lose hope that things could improve, with certain adaptations. And, I hope you aggressively pursue help in accessing a hernia operation - quality of life would greatly improve once that is taken care of. Blessings to you as you seek solutions on this difficult journey❣️🙏🏻🌟

[@genossinwaabooz4373]

We're out in a van, 6 yrs now. We had a good standard of living. Even after homeless, union job + overtime still didn't make a dent in getting anywhere beyond daily grind. Now I'm disabled can't walk. ♡♡♡♡♡ Solidarity!

[@paulcernava7091]

Building without changing the zoning codes in suburbs near the cities that need the housing is not possible.... Also gentrification of areas that have been allowed to degrade is also not the answer

[@andrewvincent9739]

Why has rent growth been extremely slow in cities like Tokyo? Is it because their landlords are less greedy?

[@blogintonblakley2708]

If economies just did what they are defined to be intended to do... produce and distribute resources. We'd be fine. We aren't fine because each of us has to carry around a rich people who doesn't want to work. This is a very inefficient, tiresome, and destructive way of producing and distributing resources. Probably why these kinds of government/economies fall apart every 250 years or so. Too many people get aced out of the gains of the economy everyone works for. After a certain point people get too hungry and pissed to be distracted by a billionaire floating in outer space... or the lives and shambles of actors. Cooperate instead of compete, change the world.

[@marjoriekaye9336]

I knew the answer was going to be "financial shenanigans". It always is, the details just vary a wee bit.

[@marjoriekaye9336]

Housing, food, healthcare, and education all need to be firewalled from corporations and financiers.

[@presidentrepublic2479]

Forget about any solution with the kind of politicians we have right now in any country. Average person needs to get educated with real knowledge only then something can be done

[@ShaedeReshka]

One thing that makes this so hard is the cities don't have much money and they will get no help from the federal level. Financing housing means generating the wealth to develop, and generating wealth means getting sucked into the capitalist game. How do we even get to the point where we can create housing that isn't designed for profit from so deep within this system?

[@c.p.haslop2500]

The Federal govt is broke. The national debt has just reached the lofty sum of 32 trillion.

[@blogintonblakley2708]

Our economies are based on the competition for profit. This competitive drive destroys communities through an imbalance in distribution of resources. The people who get left out of a full share of gains created by the society have no reason to obey the laws, value the culture, or feel content. This is such a striking feature of the government/economy way of doing things that we have to spend a huge amount of resources putting people in prison. So, I can feel you thinking at me, "Yeah... no kidding... AND?" And, we should probably start wondering why our economies are setup to be driven by competition for profit. I mean, if you just start from the definition of what an economy and government are supposed to be... you'd expect to get something completely different from what we actually get every time we do the whole government/economy thang. Funny that. No matter what we call the government/economy thangie that gets setup it always turns out the same way. They rise up, burn out and fade away, in the course of about 250 years or so. Feudalism... yup. Slave economies... yup. Some don't even last that long. Most even. Why? Because government/economic systems are set up by authoritarians. So authoritarians set up government/economic systems that give control of resources and policies to... Authoritarians. Shocking. Authoritarians as a rule make the worst leaders. They are self interested, greedy, generally unprincipled and immature. So they gain control of institutions and resources and they use their control to skew things in their interests. This can be done entirely legally. Doesn't really matter when you run a society of 300+ millions of people in the interest of a few of them things are going to start breaking. And they do, people get sick of the big unsightly parasite hanging off their ayss, and they set about removing it. Which is why such systems fall apart so regularly... and why we keep trying the same thing over and over again. People are trained to authority... if they get it, they'll misuse it a distressingly always percent of the time. We just aren't socialized to be able to handle another person's interests with any degree of responsibility and compassion. Hopeless? No. Read up on the Iroquois League. A society without prisons, no authoritarian franchise on violence, laws but no top down enforcement, economy but no poverty. Why? The systems were built to be driven by cooperation. The entire social ethic was built around cooperation. Status was gained by how much an individual gave to their community not how much they took from it. Greedy people were among the lowest status individuals in the society. We have the problems we have because we subject ourselves to authority and this is a foolish and destructive thing to do... for everyone involved... including the authority... maybe especially them. Strive for expertise to share it. Strive for authority to grab more. Only one of these is leadership.

[@planificandotunegocio]

@@blogintonblakley2708 Excellent comment. Just a few times in my life I’ve been reading comments so important in a few paragraphs. I thank you so much.

[@blogintonblakley2708]

@@planificandotunegocio Thank you. I've been studying history and philosophy for thirty years. I study for a long time... and a single piece falls into place. That leads to a different way of looking at everything, and understanding blooms... This happened to me a year or so ago, concerning this subject. And I've been trying to understand the implications ever since. For me that piece was the realization that "civilization" can't be a success if it ends in the destruction of humanity.

[@genossinwaabooz4373]

@@blogintonblakley2708 I just need to correct your characterization of those who get ousted. Overall most ppl we meet in a common homeless situation, have values like we do. We're also determined to change our community for better of us all. It's beginning to show effective in some small things but impact is a big deal. Solidarity!

[@Robert_McGarry_Poems]

Build more houses that are owned by investment companies... And then the bottom drops out!

[@jamesberry7150]

So most economists assessments are after the fact. And all theories are used to explain what happened, after the fact. Even if the theory was proposed prior to the event, it's used to explain what has already happened. On Adam Smith he said that the wealth of a nation is measured by the wealth of the citizens. And their ability to create or generate capital goods or devevope land. Individually (not black rock ). Yup like gold, housing is now a commodity! There's already enough capital to buy everything and sell nothing. Hence there is a commodity shortage for super wealthy to wash their electronic numbers into real assets.

[@KPC-123]

I can guarantee that anyone who can afford a $2 million apartment ain’t watching this video.

[@christopherchris8375]

😆🎥📡

[@arieldexler7571]

I'd love the professor to explain why it's wrong to build luxury housing on empty parking lots in the outer boroughs of nyc that is adorable for young people roommating together. I'd lobe to understand where the professor thinks these young people should instead. It's weird and incoherent to point to the most expensive luxury housing in Manhattan and offer that as a reason not to build rental apartments in Bushwick. No Russian oligarch is looking to rent that first floor studio in deep brooklyn, I guarantee you. It's just a red herring the prof is using to avoid addressing the existence of middle class renters who desperately need housing.

[@DSGLABEL]

You couldn't get 4 New Yorkers in a cab to agree on where to go for lunch. Let alone manage "community" housing.

[@kevinschmidt2210]

Yet, they can manage the largest city in America. Go figure...

[@DSGLABEL]

@@kevinschmidt2210 Can they? Look at the data. I think you would see thats not true.

[@kevinschmidt2210]

@@DSGLABEL What data? Your whole premise is a joke! Look at the city to see that close to 20 million people can agree on a lot of things.

[@DSGLABEL]

@Kevin Schmidt start with the data on people fleeing the state. Then check out the budget and compare it to Florida. Here's a hint for ya. Florida has overtaken NY in population AND jobs. If that doesn't wake you up. Look into the historical losses in local races and who that was blamed on. I am a born and raised NY'er. But if you can't see the obvious. I don't know what to tell ya!

[@clarestucki5151]

It's not realistic to consider the construction of multi-million dollar big city 'housing' units built as speculative financial investments to even be a part of the effort to provide housing for normal people. Ignore that aspect of the economy and focus your efforts and your analysis of the 'housing problem' on the level of normal people's needs , where many people actually build their own houses and only care about the use value of having shelter from the elements.