the end is nigh

Towers of ilium will close its doors on or about the 1000th post. The loyal readership will be able to spend time doing more productive things, like perusing The Oatmeal. Some people have noted that posts dropped off in volume about a year ago. This was the consequence of a new job that actually required that I do work throughout the business day. So it goes.

A recent Boston Globe article provided a breakdown of real estate development costs for new housing. It was a good article, but it made the error of attributing the housing shortage to high development costs in terms of dollars. The real high cost of development arises from the amount of time that is required to obtain permits for new construction in every community. In addition, suburban zoning bylaws and existing housing stock patterns prevents the development of higher density housing.

High prices will persist in the Boston Metro region until Harvard University goes out of business.