Kevin Erdmann
@KAErdmann
I discovered a new framework for understanding the housing bubble, the financial crisis, and costly housing markets. See my substack link for ongoing analysis.
This is a summary of the main points in my new book, out today. mercatus.org/publications/h…
😅😅
CNN: Would you ever use subpoena power to try to find out more info about Epstein? JASON SMITH: That's not a common thing I've utilized within the Ways and Means Committee CNN: But you did use subpoena power with Hunter Biden JASON SMITH: That was the only time I used it
Huge if true.
Trump: "Barack Hussein Obama is the ringleader. Hillary Clinton was right there with him and so was Sleepy Joe Biden, Comey, Clapper. They tried to rig an election and they got caught. And then they did rig the election in 2020. And then because I knew I won that election by a…
The 10 MSAs *hardest hit* by the China Shock all had positive real wage growth since 2001. Some may be worse off relative to a counterfactual of "no China Shock" -- but most are doing just great anyway
The lesson of the China Shock is that the way to help Americans and US regions that are hurt by foreign trade is to allow them to transition to a different, more modern industrial structure and allow their service sectors to flourish. cato.org/blog/china-sho… ✍️ @jmhorp
“We don’t have a marginal or arguable housing shortage. We have a ridiculous housing shortage, and the patterns in rent and price inflation that it creates could only appear under ridiculous conditions.“ kevinerdmann.substack.com/p/supply-has-t…
Since sticky downward wages are an important cause of unemployment and recessions, Bernie might be onto a transformative policy idea if he keeps following this logic.
Urgent Housing Crash Alert 5 New Mind Blowing Facts Exposed youtu.be/Herz-rbNabw?si… via @YouTube @KAErdmann
And we now have entire metropolitan areas where every aspirational newcomer that moves in requires a local household to move away so that housing is available for the newcomer. And Alex’s rule applies there.
The zero-sum trap: the more people believe that wealth, status, and well-being are zero-sum, the more they back policies that make the world zero-sum. marginalrevolution.com/marginalrevolu…
Brazilian president: "I'd like to say something to the American people; If Trump was Brazilian and did what he did at the Capitol, he'd be on trial in Brazil for violating the Constitution. He would be arrested if he had done that."
Boom! "We show that nominal GDP targeting continues to characterize optimal monetary policy"
Former St. Louis Fed president James Bullard and St. Louis Fed economist Riccardo DiCecio construct a model with heterogenous households in a search for the optimal monetary policy ow.ly/IFox50WrW47
There's empirical data from Auckland's 2016 upzoning. Price of upzoned land was 1.5X, but you could build 3X as much floor space, so land cost *per square foot of floor space* fell by half. morehousing.ca/land-cost
Half serious question. Did this spike in apartment starts happen because Covid made it harder for NIMBYs to attend planning department community input meetings?
