> The yimby argument has always seemed flimsy. Its strange logic is that speculative developers would build homes in order to devalue them: that they would somehow act against their own interests by producing enough surplus homes to bring down the average price of land and housing. That would be surprisingly philanthropic behaviour.

This is probably the dumbest thing I've ever read in my life. The real argument against yimby is that if the conditions for hold property is cheap, then landlords can afford to not be elastic with pricing thereby creating an inefficient market. The obvious solution is to increase property tax to force the hand of landlords. Another more radical way is to create legislation that gives the right to renters and/or gov to buy property at a certain price.