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What should we do about high skilled immigration and why? This is the topic of my huge new report with @LettieriDC and @cojobrien: Exceptional by Design. Quick thread on why I think you should read this report. eig.org/exceptional-by…
This is not very carefully done, but just a quick pass at the price to rent ratio
That's right, it's not Europe or New England, it's Lancaster, Pennsylvania Specifically one of the very cool mid block streets
On first glance where do you think this is? I'll give a hint in the replies
Congratulations to @ernietedeschi and @The_Budget_Lab for producing so much of the data and insights by which we understand today's economy.
Some professional news: Today is my last day full-time at @The_Budget_Lab. It was an honor & a privilege to call the TBL team "coworkers" over the last 18 months. Intelligent, curious, & utterly collegial. What they've built & accomplished in so short a time is just stunning. 1/3
ChatGPT adoption outpaces the internet's first decade, per FT:
We're looking for a spring intern @InnovateEconomy. If you know a smart student/recent grad interested in housing, economic geography, labor markets, high-skilled immigration, or any of the other policy topics we cover, send them this listing: linkedin.com/jobs/view/4316…
linkedin.com
Economic Innovation Group hiring Paid Research and Policy Intern in Washington, DC | LinkedIn
Posted 7:00:22 PM. Paid Research and Policy Internship The Economic Innovation Group (EIG) is a bipartisan public…See this and similar jobs on LinkedIn.
IMO Lyman’s skepticism is likely wrong Mense 2025 uses weather as a source of variation in new housing supply (which almost entirely affects new SFHs). He shows new housing lowers rents for units of all bedroom sizes and quality types - even though it’s mostly pricey new SFHs
this is a religious statement, not an empirical one. there are in fact no studies showing that adding any number of studio apartments has any specific effect on SFH prices! it might be true, but Patrick does not actually know it to be true.
I correlate Zillow price data by number of bedrooms at the MSA level. There's a very strong correlation between prices across home sizes. Evidence against strong housing market segmentation by number of bedrooms. New 1 BR units ease tight 3+ BR markets for families.
this is a religious statement, not an empirical one. there are in fact no studies showing that adding any number of studio apartments has any specific effect on SFH prices! it might be true, but Patrick does not actually know it to be true.
The critics of high skilled immigration can't understand evidence so its no surprise they end up endorsing rules that would actually help outsourcers
This is not true. The new "merit-based" lottery proposal is so poorly designed that it will increase IT outsourcers' abuse of the program and barely move the needle on average compensation. In contrast, a wage ranking would nuke the IT outsourcers and dramatically raise wages.
"because of the nature of his work, Joel [Mokyr] did not get a top 5 pub till the late 2010s. By today’s standards, he would not have gotten tenure at most strong and second tier departments in the world." marginalrevolution.com/marginalrevolu… What I don't get is this system is like entirely…
The New Right often point to lagging US rare earth production as an example of capitalist oversight. Rubio called it "the best example" of a market failure. But it seems corporations are failing, in large part, because of an onerous permitting process. Rubio to RCP in 2021:
"it takes 7 to 10 years to secure a mine permit in the U.S. – one of the longest permitting processes in the world – while in Australia and Canada, permitting takes between two and three years" smenet.org/What-We-Do/Tec…
Mining is environmentally costly. But if we want to be in the business of having more domestically mined output, we’re going to have to regulate at least as lax as Australia and Canada.
"it takes 7 to 10 years to secure a mine permit in the U.S. – one of the longest permitting processes in the world – while in Australia and Canada, permitting takes between two and three years" smenet.org/What-We-Do/Tec…
Old Twitter might have been useful for this, but we will give it a chance. If you are interested in hosting a book event from mid-February forward, contact me. DMs work.
Increasing housing supply with the aim of reducing rents is not anti-family, permitting greater flexibility in manufactured housing is not anti-family, accelerating NEPA review is not anti-family, lifting the RAD cap is not anti-family The ROAD to Housing Act is not anti-family.
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