As a topic, the economics of housing in North Dakota creates a significant amount of debate. This debate lacks consistency, ground rules, and facts. Most of the discussion takes place under the umbrella term of “affordable housing.” On numerous occasions I indicated the inadequacy of this term. The first problem is that it seems assumed the mere assertion of an “affordable housing” problem Read More
We reached that level finally. The straw man of a housing price issue in Grand Forks (and North Dakota for that matter)pushed us all into the merry old land of Oz. The article in the Grand Forks Herald (September 21, 2014 “A price problem?) is the latest effort in a litany of faulty economic reasoning.
Housing remains a frequent topic of discussion for people in North Dakota. Most of the discussion falls under the heading of “affordability”, a suitably vague term essentially guaranteeing little to no progress on the issue, if it is a problem at all. What is the affordability issue? My suspicion is that people are thinking of something similar to the following graph: