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Originally Posted by digitallagasse
It is distorted due to overly restrictive housing policy in both metros.
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Government's fault
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How many projects can't happen because no more intensity is allowed in a neighborhood. How much cheaper could a project be if it be built as a right and and without so many excessive restrictions.
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Once again, Government's fault
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The important that I mention is metro and not just city proper. You have to allow growth everywhere in the metro.
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"You" meaning who? Me? Government? Why does Government "have" to "allow" growth everywhere? Growth will occur where there is demand if property owners are allowed to build freely. This isn't a game of Sim City.
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Hyper in demand neighborhoods will always be so. If surrounding neighborhoods are also allowed to grow more as well that serves as a release valve for adjacent neighborhoods.
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Exactly. So if Manhattan is too expensive, you have Brooklyn, Queens, the Bronx, etc as "release valves". If certain neighborhoods in those boroughs are too expensive, then people live a few subway stops down, and so forth. That is the market--undistorted.