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It's true in SF, NY and few other places in US where cost of housing is determined by ability to pay. In the rest of the country cost of housing is a cost of bu
by smm2000 11y ago
It's true in SF, NY and few other places in US where cost of housing is determined by ability to pay. In the rest of the country cost of housing is a cost of building a house/rental property with a reasonable margin on top - with almost no correlation with local ability to pay (as long as it's higher than cost of building or maintaining a housing unit). If you increase property taxes, it will increase rental prices.
- crdoconnor 11y agoSo you're saying that supply and demand only works in SF, NY and a few other places?
- smm2000 11y agoI am saying that supply and demand are not working in SF/NY and a few other places. Or to be more exact supply is non-elastic - increase in demand does not increase supply. In cities with available land if there is a demand for housing, you just build more housing.