Well, you've given the program more material to work with in the past year or so. Since the LLM's don't have a grasp of true sarcasm, I'd like to offer some even more condensed summaries of your positions:
"The Fed thought they had to kill the housing market in order to save it."
Less sarcastically, there's also the focused argument you make about mortgage suppression and how it has throttled supply and migration factors. Although zoning restrictions are my favorite punching bag, you have laid out a compelling argument for how regional differences in land use regulation are a bit less important than lending restraints. The momentum of Sun Belt construction could probably have been sustained to the tune of 8-12 million more units from 2005 through the present if many people had been deemed worthy of taking out mortgages.
Well, you've given the program more material to work with in the past year or so. Since the LLM's don't have a grasp of true sarcasm, I'd like to offer some even more condensed summaries of your positions:
"The Fed thought they had to kill the housing market in order to save it."
Less sarcastically, there's also the focused argument you make about mortgage suppression and how it has throttled supply and migration factors. Although zoning restrictions are my favorite punching bag, you have laid out a compelling argument for how regional differences in land use regulation are a bit less important than lending restraints. The momentum of Sun Belt construction could probably have been sustained to the tune of 8-12 million more units from 2005 through the present if many people had been deemed worthy of taking out mortgages.
Now, I understand and identify with the Luddites.
Hey!