Building sufficient housing in cities is in one of the most progressive things cities can do. Opposing new housing is one of the most regressive positions there is.
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When cities don't build housing at a rate that matches their population growth, the cost of housing increases. When the cost of housing goes up, the poor (who rent) get poorer, and the rich (who own) get richer.
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The fact that the cost of housing in cities is growing faster than middle/working class income growth (due to artificial supply constraints) is one of the greatest threats to the prosperity of the middle/working class and one of the biggest drivers of inequality today.
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Economics 101
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This is definitely the situation in zimbabwe. Its so funny that a house in southafrica costs less than a zim equivalent... and the infrastructure we have is decades old
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Imagine the countries that WILL miss the AI REVOLUTION
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Tricky, specifically in a metropoly, where the ones buying could be investment funds mostly foreign ones. Price "bidding wars" are the norm where the offers are hidden from buyers making everything more expensive. Hard for the offer to catch up on the demand in such marketplace.
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The answer is to flood the market with enough supply to make it a less attractive investment for renters and speculators.
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It is not a simple problem as one might think! There are many reasons municipalities limit housings in some areas including traffic distribution, water and electricity supply, schools, parks, etc. There are city/building codes for the sustainable development of cities!
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Actually, places where people want to live have a moral obligation to expand their schools, electricity, etc. to support denser (and thus more environmentally friendly) development. Simply saying "we don't want to share because then we'd have less" is pure conservative.
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it doesn't depend on one variable alone , foreign investors also buy (see Canadas bubble) and the rich who own don't depend on prices rising to get richer, its more about access to capital/finance
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