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by
Ezra Klein
Via Paul Krugman comes an interesting graph on housing prices over the past few years:
Obviously, no one’s shocked to see we had a housing bubble, but I’m a bit surprised that rents were totally unaffected. In theory, the run-up in costs should’ve made it relatively more profitable for landlords to sell, thus depleting the rental stock, and forcing renters to stay competitive by paying more. That didn’t happen, though I’m not sure why.
Ezra Klein is a former Prospect writer and current editor-in-chief at Vox. His work has appeared in the LA Times, The Guardian, The Washington Monthly, The New Republic, Slate, and The Columbia Journalism Review. He’s been a commentator on MSNBC, CNN, NPR, and more. More by Ezra Klein
