The comments about "trickle down housing" drive me nuts. There are a ton of crappy places that are rented/sold at sky high prices, they were not built originally for high income people but they are the people who can afford them now. Why? Lack of supply. If there's a lack of housing for upper class people, they will not go on the street, they will go for lower quality housing jacking up their price. And it's so messed up to imply that "affordable housing" is housing for lower income when it literally means "affordable", which right now it's not for people that are also above lower income. Trickle down economics is a scam that goes against how economics works, saying instead that building more housing lowers the cost for everyone, is the first laws of economics. We've been experiencing for a year on EVERY product.
I don’t think she was saying that new construction won’t help, she was saying that it doesn’t help people immediately. And, when there are no guardrails, developers wind up building luxury or high-end units that most people cannot afford.
For example, in New York, there are tens of thousands of apartments that landlords keep empty instead of renting for a reasonable price. Changing tax law would go a long way toward disincentivizing such market manipulation, but the best thing that can be done, as she notes in the interview, is attach strings to federal financing. The government shouldn’t br subsidizing luxury units when so many people can’t afford a basic home.
The comments about "trickle down housing" drive me nuts. There are a ton of crappy places that are rented/sold at sky high prices, they were not built originally for high income people but they are the people who can afford them now. Why? Lack of supply. If there's a lack of housing for upper class people, they will not go on the street, they will go for lower quality housing jacking up their price. And it's so messed up to imply that "affordable housing" is housing for lower income when it literally means "affordable", which right now it's not for people that are also above lower income. Trickle down economics is a scam that goes against how economics works, saying instead that building more housing lowers the cost for everyone, is the first laws of economics. We've been experiencing for a year on EVERY product.
I don’t think she was saying that new construction won’t help, she was saying that it doesn’t help people immediately. And, when there are no guardrails, developers wind up building luxury or high-end units that most people cannot afford.
For example, in New York, there are tens of thousands of apartments that landlords keep empty instead of renting for a reasonable price. Changing tax law would go a long way toward disincentivizing such market manipulation, but the best thing that can be done, as she notes in the interview, is attach strings to federal financing. The government shouldn’t br subsidizing luxury units when so many people can’t afford a basic home.