So who is in favor of millions of more homeless people in America? Are you?https://twitter.com/dianeyentel/status/990750783359602689 …
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The problem with housing in big cities is that supply is inelastic. So prices go up and quantity supplied stays the same. This sucks. But the good news is that inelastic supply means that when fewer people can pay for rent, the quantity supplied will also not go down.
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That only really matters for the middle class and above. Lower-income almost always needs to be subsidized in an urban metropolitan region with high underlying land values.
End of conversation
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