I can see that constraining land supply will mean that rising demand will lead to rising prices. What I don’t see is where so much demand came from. If land supply were rising at the same pace as demand, then prices would remain stable.
Are we seriously suggesting that Auckland is meant to grow at roughly the rate that it’s property prices have been rising? So 26% in the last year alone? We’re meant to build a whole quarter of the city in one year?
No. Why would that follow? If the problem is that demand has exceeded supply - and that doesn't mean that there's suddenly more demand, just that the demand curve has crossed the supply curve - then you would expect prices to increase at a greater rate than before, as the value of the existing dwelling stock increases.
Also please let's talk about dwelling supply rather than land supply, it's less prone to being misinterpreted.
Also, what form of demand would cause an increase in Auckland land prices so tremendously out of proportion to population increases in the past five years? If demand for land is driving up prices, where is that demand coming from?
Remember price isn't driven just by demand; it's the combination of demand and supply. In the case of a finite resource, if there is still demand for the resource after the finite source is used up then prices will increase. It's trivial to say that land is a finite resource, but the real case of a city with new developments opening and new dwellings being built on old land is more complicated. But it's not unimaginable that if a city passed the point where new development and intensification was easily keeping up with population growth, then it might see a great increase in prices as the supply tightened, even if the population growth was more steady.
After the change point, the rise was more about revaluation of existing assets, and specifically increases in the value of the underlying land. We know land values have increased hugely in our cities over the last decade.
Incidentally this fits in perfectly with the argument that land supply is the main culprit when it comes to housing affordability.
With the caveat that "land supply" is shorthand for something like "excess dwelling capacity" - let's not forget that we could build more dwellings on our existing land - I think I agree.
Consider Lucy's case, except the village is on a tiny, crowded atoll with extensive viewsheds of the neighbouring volcano. What happens to the total value of houses in the village when someone new needs a home, whether they arrived from another island or are the grown-up child of existing villagers?
Vice’s Motherboard channel was quick to answer that question
So this is what porn images look like through mostly animal-trained networks; what I haven't seen yet is a porn-trained network looking at non-porn pics. Cocks everywhere! I'm sure there are legions of volunteers who'd be willing to sit for hours teaching a neural net what is porn and what isn't...
Understanding something and being able to talk about that something and share your experiences is surely the first steps towards being able to cope/deal with it?
Exactly - by being too scared of normalising suicidal behaviour perhaps we make it harder to normalise suicidal feelings. If you can't put your own despair into the context of others who have had the same experiences then surely it's that much harder to deal with.
People use the word 'sacrifice' a lot to refer to the war dead. The defining feature of true sacrifices, to me, is that they achieve nothing. No one says that though.
(I've spent yesterday and today sitting through rehearsals for tomorrow's ceremonies in Wellington. If I'd known how cartoonish parts of it would be, well, I still might have come - I'm comfortable with my own remembrance - but I would have been more prepared for the cognitive dissonance.)
IIRC there's a working, cutaway electromechanical pulse exchange at MOTAT where you can dial a number on a phone and watch the workings clunk away selecting the correct line. I could watch that for hours.
fuckin racist as all get up
I'm wondering what her clients think of all this. Because, you know, if it causes them to lose face...</sarc>
What's the sign for "twock"? Inquiring minds want to know.