Re:Let's build houses for people, not cars
by slg on Tuesday August 27, 2019 @03:07PM
(#20813338)
Or they decide to live in a different neighborhood, suburb, city, state, or country. That is the primary flaw with all this discussion of theoretical housing markets. Housing markets are not closed systems. Demand is not fixed. People regularly enter into or exit specific housing markets all the time due to changes in prices which prevent these pricing changes from completely flowing through the entirety of the market. It doesn't matter how expensive housing in California gets, most "rich" people will move away before they spend a few thousand dollars a month on SRO housing.
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Re:Let's build houses for people, not cars
by erik_seaberg on Wednesday August 28, 2019 @05:41PM
(#20824280)
It's pretty hard to build housing that only rich people would refuse to live in. In practice it's the working poor who end up commuting from Tracy and Morgan Hill because everything else was outbid, and that will continue until we legalize the housing glut the market is crying out for.