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Click to enlarge.
Behold the sheer awesomeness of the 2nd order polynomial trend line.
3. With sarcastic use, means that something is not awesome at all. A lower and calmer tone of voice is used, and is generally followed by derogatory physical action such as a shrug or eye rolling.
With sarcastic use, the awesomeness could even be followed by a derogatory musical tribute.
This post was inspired by Troy's comments in this post.
See Also:
Sarcasm Disclaimer
Source Data:
St. Louis Fed: Rental Income / Wages
5 comments:
The success of the VC on the ground in SVN was partially if not largely thanks to the absentee landlord situation courtesy of Diem and the transplanting of Catholics (i.e.: connected) refugees from the N in the 1950s.
If I were king I'd reduce rents in housing by building so much multifamily supply that vacancy would drop scarcity rents to zero.
http://research.stlouisfed.org/fred2/series/PRRESCONS
shows we could be spending another $300B/yr on construction.
I think I could build a quality 1000' unit at $150,000, so that's around 2 million new units per year, a city the size of Fresno (500,000) would get 3000 units a year coming online, 10 new 300-unit complexes.
10 years of this would drive the rents out of rental housing, LOL.
The flipside, alas, is avoiding the inevitable fate of all public MFH in this country. This ain't Sweden, alas, and even Sweden probably isn't Sweden any more for that matter.
Japan has a generally good experience with public housing, but with its disappearing population it needs to start actively removing supply, not adding it.
Maybe the Fed has created a permanently high plateau for rents. There is no theoretical upward limit on assets.
Troy & Mr Slippery,
It's a double inspiration two-fer! I'll have a new post up shortly.
Well, if you believe Church's post that I linked to a few days ago, it's only going to worse as the cities with jobs pull away from those without jobs.
FWIW, I'm with Church on this one.
AllanF,
Over the long-term, I'm an easy sell on only going to get worse theories. Sigh.
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