> opponents of growth that supply and demand apply to housing too.
Wait there are people who don't believe that supply and demand exists in housing? What does that even mean? This is easily provable...
Wait there are people who don't believe that supply and demand exists in housing? What does that even mean? This is easily provable...
The most good faith, steel-manned way that I can interpret these types of statements, is to interpret it as "Supply and demand in one area of the market have little effect on other areas of the market, especially those areas that are currently subject to existing government regulation and programs".
EX: If someone has been living in a rent controlled, or low income housing, for X number of years, it is correct to say that building a few more high end condos, is not going to reduce this person's rent (barring implausible situations, such as building hundreds of thousands of new housing units).
Yes, it might reduce the rent of people renting high end apartments, but it is not going to effect the rent of people who are, by definition, not paying market price for apartments, due to rent control.
It is VERY difficult to get them to understand that they have the cause-and-effect reversed : In fact, it was the increase in value that triggered the new development.