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You can't say it never works because your definition of "works" is completely off base. The population is continuously growing. We must build housing as fast a
by bananabreakfast 5y ago
You can't say it never works because your definition of "works" is completely off base.
The population is continuously growing. We must build housing as fast as it grows to just maintain parity, and even faster to reduce prices.
Saying building new houses doesn't work to lower prices is like being in a boat taking on water and after throwing a couple buckets of water overboard saying "bailing out water doesn't work" because there's still water in the boat.
Unless you ban immigration and babies, you have to build strictly faster than new people arrive. Wealthily people with multiple houses are not the driving problem behind housing shortages.
- ClumsyPilot 5y agoThere are loads and loads of places where houses are built faster than population is growing, or population is just falling, period. Prices. Keep. Going. Up. It has nothing to do with population, it has everything to do with interest rates and mortgate terms.
- closeparen 5y agoPeople can afford a higher price at a lower interest rate, but in aggregate they're getting just as much house for their money. Why is that bad? Perhaps because prices will collapse later when interest rates rise? It doesn't seem like an affordability problem exactly.