Peter Ganong on the Dynamism and Resiliency of the US Economy
Macro Musings with David Beckworth
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The Pandemic - What's Happening?
Housing supply is not responding to the increase in demand that would be there were these people migrating to the city. So they see that housing is expensive because supply is not rising proportional to the amount of migration. It's possible we really don't understand how remote work is going to work, what it's going to look like in five years from now. But in principle, you could have imagined that remote work would be undoing some of the expensive coastal elite cities. I don't see any evidence. If anything, I'd say it exacerbated some of these trends.
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