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Just to be clear, currently demand falls is addressing both global warming and housing prices. But demand is a terrible way to fix things because it means a lot
by kmonsen 6y ago
Just to be clear, currently demand falls is addressing both global warming and housing prices. But demand is a terrible way to fix things because it means a lot of human suffering at the same time. So yes, taking away everyones money is one way of solving expensive rents, but not the ideal way.
- ghaff 6y agoThere's taking away people's money but there's also just giving people more flexibility in where they live. If everyone still wants to live in a particular location regardless of any work requirements, that's one thing. But if people are primarily there because they have to be that's another.
- kmonsen 6y agoTotally agree, and it is a good thing if people who doesn't want to be there doesn't need to anymore. But in general demand slumps are hard to fix and last longer.
- ghaff 6y agoI think there are a lot of (especially) younger people who are looking at this through the lens of increased urbanization being inevitable. But the reality is that most US cities were still losing population into the nineties. When I graduated from grad school in the late 80s, basically none of my cohort lived in Boston/Cambridge--including those whose jobs were in the city. (Pretty much all of the tech industry jobs were in the suburbs/exurbs "Route 128") So, yeah, if there's a mass exodus, even if somewhat transitory, the restaurants and bars and shops will tend to be gone and it won't be easy to refresh. And the people who moved out will be somewhat older and won't be inclined to return and the younger generation won't really get the appeal.