= 27d567bc2d48d9f40e9ccc20ea370b15)
Epictetus comments on Open Thread, May 25 - May 31, 2015 - Less Wrong Discussion
You are viewing a comment permalink. View the original post to see all comments and the full post content.
= 783df68a0f980790206b9ea87794c5b6)
Loading…= b715d02e85f7b3b4ae65ca3d3e450868)
Subscribe to RSS Feed
Powered by Reddit
= f037147d6e6c911a85753b9abdedda8d)
You are viewing a comment permalink. View the original post to see all comments and the full post content.
Comments (301)
A neighborhood of San Francisco just put a moratorium on the building on "luxux flats" http://www.citylab.com/housing/2015/05/san-francisco-may-put-a-moratorium-on-new-development-in-the-mission/393857/
It seems to me that any building of new flats should lower the pressure on the rents of existing flats via basic economics of supply and demand. Whether or not the new flats are "affordable housing" prices should be lower if there more housing.
Are the people who favor those policies simply stupid and lack understanding of economics or is it possible to steelman their position?
Get enough luxury apartments in an area and all of a sudden the neighborhood becomes a lot more attractive to people with money. This puts pressure on landlords to renovate their buildings to cater to the new customers (and charge a lot more). Even with rent controls in place, there are loopholes to be exploited.