The home price index in California has increased 26% faster than in Texas since 2020, even as the former lost 353,000 residents and the latter gained 884,000 residents. I'm sure these trends are unrelated.
@mnolangray Denominator should probably be population growth, not population, though. For example, if California was shrinking (which I think it is?), it would make sense to build fewer units.
@mnolangray Have to take into account the downside of all those developers generating profit though
@mnolangray No state in the US has interceded in housing over the past 30 yrs and continuing into today, moreso than CA. No state has seen a worse housing outcome than CA. There's a lesson there...
@mnolangray Texas allows building
@mnolangray They have lower interest rates and materials cost. This has nothing to do with fees, affordability requirements, or skilled and trained requirements in California.
@mnolangray Such a big disparity