Animal spirits and real estate bubbles are some of my favorite economic subjects to study.
SF is the best bubble to look at. It is a controlled bubble, with a high supply of money.
The bubble in San Fran is a unique mix of limited supply, high demand, a higher concentration of income, and zoning laws which limit development. The below map indicates zoning restrictions on height. Yellow represents areas limited to 40 ft height restrictions.
Afraid of losing their iconic views, San Franciscans started passing referendums that established "sunset zoning," making it illegal for tall buildings to put any city park or public square in shadow for more than an hour after sunrise or an hour before sunset. - Business Insider
Map by Mike Shiraldi
SF is the best bubble to look at. It is a controlled bubble, with a high supply of money.
The bubble in San Fran is a unique mix of limited supply, high demand, a higher concentration of income, and zoning laws which limit development. The below map indicates zoning restrictions on height. Yellow represents areas limited to 40 ft height restrictions.
Afraid of losing their iconic views, San Franciscans started passing referendums that established "sunset zoning," making it illegal for tall buildings to put any city park or public square in shadow for more than an hour after sunrise or an hour before sunset. - Business Insider
Map by Mike Shiraldi
