Expensive cities will never have enough housing. The cure is to discourage investment in them and force it into less dense cities.
Expensive cities will never have enough housing. The cure is to discourage investment in them and force it into less dense cities.
They are expensive largely because of housing so your statement is a bit of a tautology.
Historically NYC housing used to be a lot more affordable before they stopped building, reducing supply relative to demand and thereby raising prices.
Has anyone tried to study how much NYC housing demand is due to having a large foreign-born population (something like 37%)?
https://www.huffpost.com/entry/new-york-city-immigrants_n_44...
Do foreigners require more houses than Americans?
> They are expensive largely because of housing so your statement is a bit of a tautology.
Yes. And that's impossible to fix.
> Historically NYC housing used to be a lot more affordable before they stopped building, reducing supply relative to demand and thereby raising prices.
Demand will _always_ outstrip supply. And there's no such thing as "affordable housing", it's a contradiction like "hot liquid helium". If housing sells, then it's affordable for _somebody_.
What you're talking about is subsidized housing in some form. Like rent control or housing projects.