> The only way to bring prices of individual dwelling units down in this case is to build more dense housing, and that involves a lot of politics.
That has never occurred here. Increased availability results in higher prices. The only exception was the housing crash of 2008 when banks found themselves holding tremendous quantities of properties they didn’t want.
This isn’t the west coast. Geography for new construction is nearly unlimited. If the price of construction is too high in one area then nobody will build there when instead they can build everywhere else.
If you want to decrease housing prices here you stop allowing construction, both residential and commercial, which redirects growth to other areas, but that only works if exclusivity does not set in.
Perhaps it’s the inability of people on the west coast to tell the difference between pricing and availability that allows prices to run away to astronomical numbers.
That has never occurred here. Increased availability results in higher prices. The only exception was the housing crash of 2008 when banks found themselves holding tremendous quantities of properties they didn’t want.
This isn’t the west coast. Geography for new construction is nearly unlimited. If the price of construction is too high in one area then nobody will build there when instead they can build everywhere else.
If you want to decrease housing prices here you stop allowing construction, both residential and commercial, which redirects growth to other areas, but that only works if exclusivity does not set in.
Perhaps it’s the inability of people on the west coast to tell the difference between pricing and availability that allows prices to run away to astronomical numbers.