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Math is simple. Build more houses per year than people who want to move to the city. Prices will decrease. NYC did this over 100 years ago, it became one of t
by com2kid 1y ago
Math is simple.
Build more houses per year than people who want to move to the city. Prices will decrease.
NYC did this over 100 years ago, it became one of the world's most important cities.
SF did the same thing, it became a tier 1 world city.
Same for Chicago.
Then they stopped doing it.
Then no other city in America even bothered trying.
Also housing prices don't go down immediately with new construction, there is a latency. More so, sometimes prices just stabilize, but if prices stay the same for 5 years, and inflation and wages go up, that means the effective price of housing went down. If you keep building and prices stay the same for a decade, all of a sudden houses are affordable.
SF
- cyberax 1y ago> Build more houses per year than people who want to move to the city. Prices will decrease. No, they won't. For the same reason adding a lane to a busy freeway doesn't increase the traffic speed.