Re: Dudley Square Residential Tower | Washington St. | Roxbury
But the supply is always in flux, and there's no way to accurately quantify that supply except by looking at the market and guessing. Problem is, the market is a poor indicator because builders are going to build the most expensive apartments they can possibly build to make the most money. The key point: even if we ditch onerous regulations and zoning, the market is always going to serve the people with the greatest need last.
As someone else said, this is blatantly untrue for renters, and we live in an economy with fewer owners and more renters.
You're theory assumes there's an unlimited supply of people moving into a neighborhood, let alone an unlimited supply of people who would or want to move to any given neighborhood. In fact, the supply is limited. The problem isn't building housing, but knowing how much housing to build. Under-building in a growing neighborhood to the point that vacancy rates change by even a single percentage point can have a negative impact on prices.
But the supply is always in flux, and there's no way to accurately quantify that supply except by looking at the market and guessing. Problem is, the market is a poor indicator because builders are going to build the most expensive apartments they can possibly build to make the most money. The key point: even if we ditch onerous regulations and zoning, the market is always going to serve the people with the greatest need last.
Building more housing does not push people out of neighborhoods. Study after study has shown that gentrification acutally helps residents and causes them to stay more than the neighborhood being seedy.
As someone else said, this is blatantly untrue for renters, and we live in an economy with fewer owners and more renters.