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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You can see this with housing. Tearing down single-family homes and replacing them with luxury condos is reducing the available stock of homes for people with children. It's basically saying we cater to childless adults. [/quote]

You mean the popups, which typically involved a 3 BR TH going to two or three 2 BR condos?

[b]Well, yeah - if we built more midrise/hirise condos, enough supply to lower the price for condos, there would be less incentive to do those kinds of flips.  They would still become luxury though - old unrenovated 3BR houses are going to become renovated luxury 3BR houses. Only real way to make housing for families affordable close to a desired central city is to get (even UMC) families used to living in condos/apts, as they do in NYC[/b]. [/quote]

I know this is the super trendy arguments among lefties -- that anything that increases supply is good, even if it's luxury condos for the rich. I find it so, so ironic, because this is basically a form of trickle-down economics. It's so funny that people on the left side of the political spectrum have found a form of trickle-down economics they can get behind. Paul Ryan would be very proud. [/quote]

The real issue is the Federal Reserve. By holding interest rates so low, more people can get huge mortgages. More people able to get more huge mortgages means more people bidding on houses, which drives prices up. When the Powell starts really raising rates, the size of the mortgages people can get will crash. That will mean fewer people bidding on houses, and prices will fall. Increasing the supply of homes might eventually affect prices but probably not until decades from now. [/quote]

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