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Metropolitan DC Local Politics
Reply to "Greater Greater Washington as a news source"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Loosening zoning laws is going to make zero difference to housing prices. It's odd how people have convinced themselves this is some kind of silver bullet to high housing prices. [/quote] Supply and demand doesn't apply to the housing market?[/quote] Yes, it does, and that's the problem for those selling zoning as the easy answer to everything. They always want to focus on the supply side of the equation, and assume that if they just bring more housing units onto the market, prices will decline. But what about demand? If prices were to actually go down, demand would go up because that's what happens when prices fall. Housing prices will never actually fall no matter how many units they build because it will always been exceeded by demand. There's millions of people who would happily move into the District (do you think people want two hour commutes?) and there isn't space to build millions of new housing units. [/quote]
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