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objectimpermanence t1_je2bmzy wrote

Reply to comment by GeorgeWBush2016 in Rents high. What is your alternative to increasing housing supply? by paul-e-walnts

This is a great reminder that capitalism is not the same thing as a free-market system.

We live in a capitalist country, but hardly any part of our economy operates in a free market. The housing market in particular is heavily distorted by regulation, for better or worse.

We are in a problem of our own making. High housing prices are a symptom of poor policymaking.

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No-Practice-8038 t1_je2llzx wrote

Um… it’s distorted alright…..by builders and Wall Street buying up those sweet sweet politicians.

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objectimpermanence t1_je2xoor wrote

A few years ago, it was estimated that 40% of the buildings that exist in Manhattan would be illegal to build under current zoning rules.

That is the kind of market distortion that contributes most significantly to the housing crunch.

The biggest opponents of zoning reform in NJ & NY are left-wing activists, not developers and Wall Street.

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AccountantOfFraud t1_je5gv5f wrote

>The biggest opponents of zoning reform in NJ & NY are left-wing activists

Don't think this is true at all. I've seen a lot more "Left-wing" activists calling for zoning reform such as removing parking requirements, increase in height, etc.

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