Any time we write about how more housing will lower housing prices, or at least limit their growth, some commenters say that we’re wrong because New York is dense and expensive. It’s as if we’re citing the “law of supply” instead of the law of supply and demand.
Anyhow, via Vox here’s a Trulia chart comparing new construction vs. rising prices.
Sadly, Seattle isn’t one of the labeled dots. Regardless, the density naysayers would have you believe that cities can sustainably be in the upper right quadrant of this chart. That may be so, but there’s no empirical evidence to support it.