actualtext t1_j21qdi1 wrote
Reply to comment by Myske1 in Opinion: New York finally has momentum on housing and it’s time for a breakthrough by King-of-New-York
Rent prices will never go down with that approach. You’re basically suggesting we freeze development of new housing. That’s horrible.
Myske1 t1_j21r72b wrote
False. Prices depend on both supply and demand. The real estate developers want to make money and have convinced everybody that their supply-side approach is the right one. Reducing demand would do it just as well, and that would involve population loss. People moving away or dying faster than they arrive or are born.
It's happened before. The population dropped like crazy when people started moving to the burbs in big numbers in the 60s and 70s. Rents dropped. Sale prices dropped. People were picking up whole brownstones for almost nothing.
beepoppab t1_j22j133 wrote
"The farmers want to make money and have convinced everybody that growing more food will bring down the price of food. Instead, some folks just need to stop eating so we can reduce demand."
Can I buy some crack from you?
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