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Psychological-Ad8175 t1_ixmdpj6 wrote

This is obvious on all large corp owned buildings what's a few empty units when you can keep prices skyrocketing.

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Jahooodie t1_ixmoak0 wrote

Bbbbbbut supply and demand!!!

collusion and monopoly have entered the chat, and settled into a nice Hudson county brownstone

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JeromePowellAdmirer t1_ixqwkgc wrote

The market is still the market. This dumb algorithm sets the maximum rent subject to supply and demand constraints. That's why they use the same software across the country and yet rents are cheaper there. You don't even need to look far away. Compare new buildings in Harrison to those downtown. The Harrison ones are not priced the same as downtown despite clearly using the same algorithm, why, because of supply and demand. Either way it's collusion. But it doesn't mean supply and demand suddenly doesn't exist.

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objectimpermanence t1_ixuydgq wrote

So many people are willfully ignorant about basic economics. I’m sick of trying to explain it.

In every thread on this topic, it’s always the same people who refuse to acknowledge the facts no matter how many times people try to explain it.

Anyone who thinks that we need to do anything other than build more housing when there’s a housing shortage is engaging in wishful thinking.

It’s the left’s version of COVID denial. And it’s one of the defining social problems of our time.

That’s why San Francisco, which is supposedly one of the most “progressive” cities in the country, has a massive housing problem where even middle class people struggle to find adequate housing because they simply refuse to build enough new housing.

Now the same story is playing out in cities across the country. It’s not that developers and landlords have suddenly gotten greedier then they were a couple decades ago. It’s a problem of our own making.

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JeromePowellAdmirer t1_ixqxc4r wrote

You can downvote all you want and it won't change the fact that a brand new, collusion building in Harrison is cheaper than one in Jersey City and you have no economic model to explain that.

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Jahooodie t1_iy19lwm wrote

Are you talking at me? You do seem to have confused a pithy comment about the wealthy and powerful getting a blank check to do whatever they choose around here to great benefit & profit, with ignorance about ‘economic models’ or something.

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JeromePowellAdmirer t1_iy2ar3j wrote

Any outrage for the exclusionary suburbs, or will it only be for downtowns? If they were allowed to build nothing you make the owners of current buildings richer. Congratulations you get to choose who gets rich of 2 already rich groups. There is no point to blocking construction

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