What's silly is that many people do argue that deregulating housing and letting private developers build whatever they want is sufficient
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Replying to @davidjmadden @BlandUnsight
I don't think I've seen anyone argue that except for people whose answer to literally everything is "deregulate".
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Replying to @JonnElledge @BlandUnsight
There are a lot of people who think less regulation and more supply is *the* answer to housing crisis in places like London, SF, Toronto etc
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They may also think that deregulation is the answer to everything else too, but that doesn't make them any less wrong about housing...
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Replying to @davidjmadden @BlandUnsight
There may be individuals who think that, and they may be more common in other cities. But in London at least, I don't think it's mainstream
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"Do you think the best response to the Dutch Tulip Bubble was to grow more tulips?" implies that we have over-supply. We don't.
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The city's population is growing by 100k a year, and we're not building the homes to cope with that.
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Replying to @JonnElledge @BlandUnsight
The point of the tulip analogy is that fueling speculation won't help either. What would help would be homes that can't be speculated upon.
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Replying to @davidjmadden @BlandUnsight
I agree. But you seemed to be implying that more homes would be unhelpful, if not actively counterproductive. That's wrong.
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Replying to @JonnElledge @BlandUnsight
My point is that not all new housing is helpful. Some can indeed be counterproductive. Depends on what kind of tenure, where, for whom, etc
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The whole country is designed around protection of property rights and property value and that unfortunately is not changing any time soon.
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Replying to @kimmaicutler @davidjmadden and
So the SF argument of only BMR housing perversely makes the existing housing stock an even more attractive speculative asset, which prices
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Replying to @kimmaicutler @davidjmadden and
Out an increasingly wide swath of the middle class.
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