[Schiendelman]

A residential vacancy rate that low means people are deeply stuck - that means the market has almost no slack, and people can't move there. That's a very very bad situation - employers want to hire more people, but they can't get talent because that talent can't move. AND the people who can't move then can't get the better paying jobs they're being offered.

[boston_clone]

> A residential vacancy rate that low means people are deeply stuck

Is that what it means? Paris has a similar vacancy rate and seems to be doing alright. Vancouver has also seen population growth rates above 4%/yr, which outpaces the province, so people are moving there.

Is there a talent shortage in that city? Unemployment seems higher than normal but that could be an oversimplification.

I guess I’m struggling to see the connective tissue between the stated points.

[Schiendelman]

How are you defining "doing alright"...?

[boston_clone]

Have you been to Paris recently?

Great food, tons of bike and rail infra, 35 hour work week, strong social safety nets, lower than average rate of violent crime, wide consideration as the preeminent destination for fashion and art, etc. etc.

[Schiendelman]

Right - for the people who can afford to live there. That's dramatically artificially limited, the people who aren't rich don't get many of those things.

[boston_clone]

Rent control helps, from what I remember. but I imagine you may be looking from the perspective of purchasing a home (in which yes - pricey!)

[Schiendelman]

Rent control doesn't change how many people get to live there, just swaps some people for others. And usually hinders housing production, reducing that number more over time.