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The cost of building is one reason why supply is constrained. It doesn't follow from there that increased supply wouldn't reduce prices.
by tempestn 1y ago
The cost of building is one reason why supply is constrained. It doesn't follow from there that increased supply wouldn't reduce prices.
- 9rx 1y ago> It doesn't follow from there that increased supply wouldn't reduce prices. Increasing the supply of labor, thus reducing the cost to build the home, was spoken to. The average construction worker makes $30/hr. Get that down to minimum wage and the cost of a house will come down pretty quickly. You still might not be able to afford one on a minimum wage salary, perhaps, but the goal of reducing housing prices is met.