[llamaimperative]

No, they specifically looked at changes in income. Incomes go up before housing prices go up.

[no_wizard]

Correlation != causation. The lack of factoring these locality inputs means they lose the broader context of their conclusion and that’s what makes it incomplete to me

[llamaimperative]

No no, you're misunderstanding. The study did factor locality-specific inputs like the ones you're describing. In fact they included all of them by measuring the actual realized supply production for each locale.

It's that those factors don't appear to matter.