Random Walk at Night: There is still no housing shortage

Or an affordability crisis. None of that. Knock it off because people are gonna get hurt.

In tonight’s edition of Random Walk at night (the slightly longer, more words than pictures version of Random Walk), Random Walk will doggedly continue to be right while everyone else is wrong, on a subject that people care a lot about with very strong feelings.

This is the way.

Editor’s Note: everything reads better in your browser or in the app. The footnotes especially, and Random Walk is really leaning into the footnotes. Plus, if you have the app, you can set delivery to “app only” and then my daily barrage will feel less like a barrage. Unfortunately, substack does not yet have a “Weekly Digest” option, but I’m hectoring them aplenty.

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Random Walk at Night: There is still no housing shortage

There are lots of new apartments being built

Good news folks, there is a record supply of apartments coming online:

We’ve built a lot lately, and there’s more in the pipeline.

Now, who knows whether all of these ongoing proje…