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simple observation shows us that it doesn't work Quite the contrary. A pretty simple reductio proof demonstrates that more housing lowers prices. All you need
by dionidium 11y ago
simple observation shows us that it doesn't work
Quite the contrary. A pretty simple reductio proof demonstrates that more housing lowers prices. All you need is to imagine a market in which there is one more apartment available than there are people to rent it.
- mcguire 11y agoThere's also a simple proof that renters have near-infinite demand flexibility, so the prices can't go up. So....
- dionidium 11y agoI actually regret making that comment. We should be suspicious of logic-based arguments about topics for which there is actual evidence. We already know what it looks like when supply outpaces demand, because there are housing markets all over the rust belt where that's the case.