4 ms·

Supply that meets demand means prices come down... however, it.needs to be the right supply for the right demand. A bunch of high end housing doesn't make middl

• jseliger 9y ago
  It does over time: http://cityobservatory.org/what-filtering-can-and-cant-do/ http://cityobservatory.org/what-filtering-can-and-cant-do/ or http://cityobservatory.org/urban-myth-busting-new-rental-housing-and-median-income-households http://cityobservatory.org/urban-myth-busting-new-rental-hou.... The problem is that we have a 40+ year backlog of underdevelopment: https://jakeseliger.com/2015/12/27/why-did-cities-freeze-in-the-1970s https://jakeseliger.com/2015/12/27/why-did-cities-freeze-in-.... We've waited till the symptoms are acute to even begin acting on the underlying problems. Then we're surprised when we don't see immediate, instantaneous fixes.
• AgentME 9y ago
  If people who would be buying high-end housing are forced to buy lower-end housing because the supply is tight, then prices will be forced to go up everywhere.
  • stevenwoo 9y ago
    That's been happening in Bay Area for last 20 years, folks buying lower-end and demolishing and doing a rebuild. Palo Alto/Menlo Park are just more local and visible to me, but I assume it's the same elsewhere gradually. Coming from a softer market back around 2000 it was crazy to get outbid on a starter home and see someone demolish it right away.