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That's not obvious. NYC has a lot more available housing than somewhere upstate and is a lot less affordable. More housing means more people, but prices might

That's not obvious. NYC has a lot more available housing than somewhere upstate and is a lot less affordable. More housing means more people, but prices might even go up.

rdiddly 9y ago
More supply might lower prices, or it might lead to "induced demand" that eventually makes prices creep back up... Maybe even higher than before. So you're both right. The deciding factor which way it's gonna go is basically "location, location, location."
- YokoZar 9y ago
  And where is that hypothetical "induced demand" coming from? Some other city that now has more affordable housing due to the people leaving town. Either way, when you legalize housing and build more houses, you end up with more houses. That makes getting a house easier, for someone, somewhere.
  - akvadrako 9y ago
    Assuming human population is static, you are absolutely right.
  - sevensor 9y ago
    > Some other city that now has more affordable housing due to the people leaving town. Indeed. Contrast New York City and Buffalo.
closeparen 9y ago
>a lot more available housing The amount of liquidity has little to do with the overall supply-demand balance. There is plenty of AMZN stock available for purchase; doesn't make it cheap.