It's not the only thing, no
That’s the thing you’re missing - the best way to do that is to encourage more housing. That’s the best way to drive prices down. Because you refuse to accept basic, basic economics you argue against that.
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the part of your argument that I am not buying is that we can trust in the good faith of developers and landlords to react to vacant apartments by reducing rents across the board, and that they wouldn't pursue every action possible to avoid doing this
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Oh we don’t trust them. They lower rents because that’s what they have to do to get tenants and they don’t want to lose money. It’s not about trust, it’s about making sure they have the right incentives, then you don’t have to trust anyone!
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the strongest incentive is to build more units AND keep the rents inflated, I haven't seen anything that can defeat that yet except specific price controls, and they definitely don't want that. They seem to very much want us to just trust in the market, which makes me skeptical.
End of conversation
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