Quote:
Originally Posted by rubecube
Upzoning alone isn't going to fix the housing market without greater restrictions on speculation. If you allow speculators to continue buying up supply without renting back to the local population, you're just exacerbating the problem.
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That might happen, because humans are irrational, but doesn't make sense rationally.
If you upzone, you pop the bubble. Who wants to speculate on that?
If you buy investment property, why forego rental income?
But anyways, my argument wasn't that other measures aren't necessary. Only that upzoning is. There is no successful affordable housing program possible without addressing the root issue, which is that housing is not market-priced because of legislated supply restrictions.