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While I 100% agree with you that matching demand with a commensurate increase in supply is the only true fix to the problem of housing costs, in practice I don’
by MontyCarloHall 5y ago
While I 100% agree with you that matching demand with a commensurate increase in supply is the only true fix to the problem of housing costs, in practice I don’t see it happening for a couple main reasons:
Firstly, the people with the most political power are not coincidentally those who would lose the most if housing prices decrease. NIMBYism therefore inevitably wins.
Secondly, building additional housing in regions that need it most (i.e. dense urban areas) would require dramatically improving public transit in those areas. The transportation networks of e.g. San Francisco, Boston, or even New York (which has by far the best public transit in the country) are already at a breaking point and simply cannot tolerate the influx of people more housing stock would bring. Sadly, I don’t think the US has the ability anymore to build large infrastructure projects at reasonable prices.