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Comment by exceptione | Hacker News Reader

On a macro scale, that has hardly any impact, and I think it would be even immeasurable.

It is rather the other way around. Higher rents / house prices will make sure only people with higher wages can afford to live there. That means your bagel or coffee will be more expensive there too.

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I didn’t say macro scale, I said Los Angeles that’s the problem.

Pretty much everything required to build housing, wood, labor, pre-approved land is in a massive shortage that we can’t spend money to fix.

So more money to simple pump demand for all those things will have a massive inflationary impact.

Nope, LA is too much part of the macro economy to make such an impact. Wood and labor doesn't have to come from LA and even if that would double (it won't) there would be a round zero impact on inflation in LA. The land to be build was going to be sold anyways, you just get one bidder more, or several bidders less if the council makes requirements like x% social housing.

Please, forget anything you are worrying about here, it does not apply.

Literally every problem I mentioned is at its worst state possible. People with millions and billions simply waiting to buy materials or get land approvals. It’s a well know intractable problem [1] and really the crux of the problem.

If just these problems could be solved the state has more than enough funds to house everyone. What billionaires do would be wholly irrelevant (like it is now)

[1] https://www.constructiondive.com/news/construction-materials...

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