Divya Raghavan

Some pig. Terrific. Radiant. Humble.

[Jay Parsons @jayparsons]

When you build "luxury" new apartments in big numbers, the influx of supply puts downward pressure on rents at all price points -- even in the lowest-priced Class C rentals. Here's evidence of that happening right now:

There are 12 U.S. markets where Class C rents are falling at least 6% YoY. What is the common denominator? You guessed it: Supply. All 12 have supply expansion rates ABOVE the U.S. average.

There's no demand issue in any of these 12 markets. They're all among the absorption leaders nationally -- places like Austin, Phoenix, Salt Lake City, Atlanta and Raleigh/Durham, Boise, etc. But they all have a lot of new supply.

Simply put: Supply is doing what it's supposed to do when we build A LOT of apartments. It's a process academics call "filtering." New pricey apartments are pulling up higher-income renters out of moderately priced Class B units, which in turn cut rents to lure Class C renters, and on down the line it goes.

Less anyone still in doubt, here's another factoid: Where are Class C rents growing most? You guessed it (I hope!) -- in markets with little new supply. Class C rent growth topped 5% in 18 of the nation's 150 largest metro areas, and nearly all of them have limited new apartment supply.

Most new construction tends to be Class A "luxury" because that's what pencils out due to high cost of everything from land to labor to materials to impact fees to insurance to taxes, etc.

So critics will say: "We don't need more luxury apartments!"

Yes, you do. Because when you build "luxury" apartments at scale, you will put downward pressure on rents at all price points.

Spread the word.

[bryan culbertson @bryanculbertson]

For comparison, we arrest and put transit riders in jail for skipping a $3 fare

https://t.co/YU0RpSQsKt

[Divya Raghavan @divragh]

"An individual seen whipping a dog risks arrest, but CEOs whose companies in effect torture chickens are celebrated for their business acumen. Individualized animal abuse is a crime; systematic animal abuse is a business model." https://t.co/YMGU1Ifviv

[Raphael Mimoun @RaphMim]

Remember when Uber, Lyft & others spent $224 million on Prop 22 & overturned the law that forced them to treat drivers as employees rather than contractors (and to give them benefits)? And how they claimed Prop 22 would benefit drivers?

Well, the results are in: $6.20 per hour

[Alexandria Ocasio-Cortez @AOC]

A lot of people, especially on days like yesterday’s SCOTUS rulings, ask me about hope.

Now is the time to stick together. Some thoughts from last night’s Q&A:

[Donna 🦆 @DonnaDotPaella]

I don't know if you guys realize that there is now a (very famous) precedent for how saying publicly that you are a victim of domestic violence, without naming your abuser, is considered defamation

[Divya Raghavan @divragh]

For more data, check out this dashboard on the DA office’s work: https://t.co/dibSCEcZgg

[Divya Raghavan @divragh]

Excited to vote NO on the recall of the DA, @chesaboudin! I’m very happy to have a progressive DA whose empathy shows through in his work. The pro-recall messaging rests on 2 fundamental mistruths. 🧵

[Divya Raghavan @divragh]

@chesaboudin The DA’s office files charges in 70-85% of burglaries presented to them—the highest rate since 2011—and charging rates for homicide and rape cases have increased under Chesa. (https://t.co/oO0ZZmWCgz)

[Divya Raghavan @divragh]

We are living in the golden age of oats.

[Divya Raghavan @divragh]

Help people get enrolled in Affordable Care Act health insurance & (virtually) hang out with me!

[HealthSherpa @healthsherpas]

HealthSherpa is #hiring! Hear from the team about our company culture—we have lots of roles in engineering, product management, support, design, account management, and more. https://t.co/mrDe7hbgcn #Tech #Startup

[Jill Filipovic @JillFilipovic]

Imagine the absolute (and justified) freakout if a blue state passed a law that paid any citizen $10,000 & covered their legal fees for suing any person they saw without a mask. Every Republican would be screaming about totalitarianism.

That's what Texas has done - but to women.

[Matt Haney @MattHaneySF]

Eliminating bathrooms doesn't make people stop pooping.

Eliminating trash cans doesn't make people stop throwing trash.

Eliminating buses at night doesn't make people stop traveling at all hours.

Cities should provide services people need, not pretend those needs don't exist.

[Divya Raghavan @divragh]

@uberpreeya There are a lot of things that happened growing up in Ohio that I didn't realize were super racist until later in life

[Divya Raghavan @divragh]

@uberpreeya I like the kid! The admin is more the problem.

[Divya Raghavan @divragh]

@uberpreeya It was a particular white kid

[Divya Raghavan @divragh]

@uberpreeya Then the principal called me a "grade grubber" when I questioned it

[Divya Raghavan @divragh]

@uberpreeya This happened to me in high school! I was salutatorian and then a white student's parents complained and the school pulled me from the speaking slot the day before graduation.