Evan Soltas

15 posts

Evan Soltas

Evan Soltas

@esoltas

Assistant Professor of Economics and Public Affairs, Princeton University. https://t.co/9bjO3A6cj5

Katılım Nisan 2012
1.2K Takip Edilen9.2K Takipçiler
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Evan Soltas
Evan Soltas@esoltas·
New paper (w/ Jon Gruber): What’s a building permit worth? And what can we learn about the importance of de-facto regulatory burdens versus de-jure constraints in housing development? We study these questions using a new setting: the market for land with preapproved permits.
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Jonathan Berk
Jonathan Berk@berkie1·
"There is now unambiguous, solid economic evidence, not just abstract economic theory, that rent control would make the affordability problems facing [Massachusetts] worse, not better." - Jon Gruber, Chairman of the Economics Department at MIT
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Paul E Williams
Paul E Williams@PEWilliams_·
An excellent speech worth watching from @brianschatz. Fixing the BTR provision in ROAD to Housing is the way to ensure it can be the biggest housing supply bill in decades.
Eleanor Mueller@Eleanor_Mueller

Schatz says on the Senate floor "there is a problem" with the housing bill. "There was an original idea to go after hedge fund ownership of housing. ... There is also a section that does a very bizarre thing, which is ... anybody who owns and rents out more than 350 units ... must sell."

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Alex Trembath
Alex Trembath@atrembath·
“Much of this confusion stems from a more fundamental disbelief that anyone could sincerely be motivated by a concern about the boring regulations that prevent the development of housing, transit, and clean energy.”
Jerusalem@JerusalemDemsas

Abundance/YIMBY critics keep accusing us of being in the pocket of developers or big tech or a front to build data centers. This critique rests on the belief that no one could sincerely think that regulatory reform is important enough to devote a political project to. And so, since it's obviously marginal to the problem of housing affordability, it must be a front for some other nefarious purpose. New, from me, in @TheArgumentMag: No, abundance is not part of a long con to create cover for data centers. theargumentmag.com/p/stop-calling…

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Jerusalem
Jerusalem@JerusalemDemsas·
In Los Angeles County, the permitting approval process is raising the price of vacant land by FIFTY PERCENT. This is the kind of premium that comes with an oceanfront view or adding a pool. Genuinely shocking. (h/t @esoltas) theargumentmag.com/p/stop-calling…
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Owen Zidar
Owen Zidar@omzidar·
Striking graph from @esoltas and Jon Gruber
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Evan Soltas
Evan Soltas@esoltas·
@AzizSunderji Hi Aziz, the 50% number is a "repeat-listing" comparison of the same properties. The cross-sectional comparison does yield larger estimates (as you suggest). We also consider whether the types of properties that preapprove would get larger premia; little evidence for that view.
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Aziz Sunderji
Aziz Sunderji@AzizSunderji·
@esoltas Are the parcels that developers will pay a fee to purchase pre-approved the same as the others? I would imagine they are more premium—and that this might affect the results?
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Evan Soltas
Evan Soltas@esoltas·
New paper (w/ Jon Gruber): What’s a building permit worth? And what can we learn about the importance of de-facto regulatory burdens versus de-jure constraints in housing development? We study these questions using a new setting: the market for land with preapproved permits.
Evan Soltas tweet media
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Evan Soltas
Evan Soltas@esoltas·
@bobbyfijan Hi Bobby: appreciate your industry expertise on this. I'd love to see option contracts on this if you have them (we mention it on p.7). esoltas at princeton edu. I'm confident of the magnitude of the premium, at least in this sample (MLS, mostly smaller residential parcels).
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Evan Soltas
Evan Soltas@esoltas·
But permitting is just one piece of the puzzle. Is it a big deal or not? We answer that question by relating permitting to the overall "gap" between home prices and construction cost. Permitting alone explains one third of the gap, suggesting it's a key barrier to housing supply.
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Keşfet

@brianschatz @AzizSunderji @bobbyfijan @elonmusk @BarackObama @taylorswift13 @cristiano @BillGates