Source: EconLog
by Jon Murphy
“According to the World Population Review’s Cost of Living Index, the overall cost of living in Massachusetts is roughly 1.5x greater than in Louisiana. The difference in housing costs is even greater, with housing in Massachusetts about 2.3x more expensive than in Louisiana. To provide a concrete example of what this looks like, I bought my 1,200 sq ft, 2 bed 1.5 bath condo for $142,000 in August. A similar condo in Worcester, Massachusetts sold for just under $400,000 this past fall. … My position is that Massachusetts should ‘build, baby, build.’ My aunt objected, pointing out that there is a ton of building going on in Massachusetts. And she is right; some 90,000 units are under construction in the state. My response was ‘It’s still not enough housing.’ In that response, I made an Econ 101 error: I was reasoning from a quantity change.” (03/05/26)
https://www.econlib.org/econlog/dont-reason-from-a-quantity-change-either