2 ms·
The problem is housing, in general, is a an inelastic good - we can't just apply free market thinking to it, it doesn't work. For a few reasons: 1. It takes a
by array_key_first 10mo ago
The problem is housing, in general, is a an inelastic good - we can't just apply free market thinking to it, it doesn't work. For a few reasons:
1. It takes a really long time to develop housing in a meaningful way, like on the order of decades to build communities.
2. People don't actually really choose where to live, it's a lot like hospitals. You live where your job is, which means the more economically strong a place is (city) the more housing you need. Which is why cities are dense. It might sound obvious, but it's not like choosing which brand of cereal to buy.