> Fun fact, if you want to reduce the price of houses, increase the supply instead of instituting rent control and hoping for spooky action at a distance. Thou

> Fun fact, if you want to reduce the price of houses, increase the supply instead of instituting rent control and hoping for spooky action at a distance. Though if you want to reduce the prices of housing quickly, I don't think anything could beat rent control plus an aggressive use of eminent domain to build lots of public housing quickly. Even though public housing was done extremely poorly in the US and earned a very bad reputation, other countries have done it much more successfully. A market solution would naturally take far more time (at a minimum, there'd be no reduction in prices until new development project finish and their supply hits the market), and the equilibrium price may still end up being lower but still unaffordable to too many people.