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The other half of how it works is that when demand is high, supply should increase to meet it. The reason supply remains constricted and hence prices high has n
by zasz 10y ago
The other half of how it works is that when demand is high, supply should increase to meet it. The reason supply remains constricted and hence prices high has nothing to do with economics, and everything to do with NIMBYists hostile to newcomers.
- kyledrake 10y agoThe other thing is that, as this article points out, this isn't just pure "supply and demand", because the government is pouring subsidies on property ownership, pushing interest rates to 50-year lows, and offering tax incentives for owning homes. None of which gets passed to the majority of renters who end up paying the higher rates. It's a very good point and it's worth talking about.
- pascalxus 10y agohostile doesn't even begin to describe it - there's outright hatred (and alot of ignorance of supply/demand). Sadly, we're getting to the point where people would rather make the housing problem even worse, rather than allow more tech people or anyone else for that matter to move into the city. Just lately they passed proposition C, which will reduce the overall housing supply even more.