3 ms·

None of the policies you suggest were necessary in the past, when housing was much more affordable even though NYC was still drawing in many people from elsewhe

None of the policies you suggest were necessary in the past, when housing was much more affordable even though NYC was still drawing in many people from elsewhere. Why would those policies be necessary now? You need to look elsewhere for the cause of the problem.

ericd 4y ago
It's near 0% interest rates and devaluation of the currency, combined with central banks propping up the price of bonds, leading to strongly negative real yields on bonds, driving investors to seek something to retain the value of their money.
- userabchn 4y ago
  ... and further combined with a decrease in supply of housing