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Jul 27, 2023Liked by Kevin Erdmann

The true narrative of the Great Recession housing crisis needs to be repeated at any opportunity. So, at the very least, the Klein/Dayen discussion gave you that opportunity again.

Also, Klein and Dayen, among others, seem to have moved on from the myth of over-produced housing from the early 2000's. That fiction has been harder to sustain in recent years because shortages, and subsequent prices increases, now seem to afflict every major metro area to some degree or another. I think the media has been doing a decent job of describing the unfolding situation with commercial office space, both as it relates to "price adjustments" and the architectural challenge of converting many of these buildings to residential uses. The next decade will be interesting for some cities, and if history is a guide, this will have positive impacts---if we can change zoning and historical commissions.

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