watching the lease up after building low income housing these sure doesn't fill up with people making a decent wage.
I would tell you developers always find a way around rent control even if its in place.
like three "units" out of 400 must be at a certain rate.. they offer them for so long if nobody of poverty moves in the rest of the building is full, they fill it with normal tenant and move on. It really only matters in the permit stage.
the law makes no impact, the state subsidizing the construction of housing that is affordable makes people build them and they are shacks, so lower income people fill them up.
its always about the guy developing the land and if he can make money NOBODY builds shit for free or less profit even.

This post was edited by theCrossbones on Dec 19 2020 09:42am

Been there, done that.

The thing about things like supply and demand is it requires a lot of assumptions, like symmetry of knowledge, perfectly elastic demand, and rational actors. These things work for some stuff, like food, but for necessities like healthcare and housing they are never reasonable assumptions.

This is one of those things where you're going to parrot economics 101, I'm going to try to explain graduate level knowledge, and you're going to call me ignorant for saying that economics 101 isn't the full picture.

So let's just skip all that and I'll call you dumb.

lol

You don't have graduate-level knowledge though and you're talking to someone who actually has an economics degree.

You're one of the dumbest posters on this subforum. There are many dumb people in this world but at least they have the wisdom to not defend wrong ideas that are not rooted in reality once proven wrong.

Price ceilings don't open up more housing it actually creates shortages. People don't get out of the renting market because rent is cheap due to price ceilings in reality it's the exact opposite. They stay there longer because it's below the equilibrium price. Why buy a house when i can rent perpetually below market-clearing prices? So what happens is when new people move to the neighborhood or area they can't find housing because prices are below equilibrium and there isn't that organic tenant turnover that needs to happen because housing in a given area is finite.

Dunning Kreuger to the max

I've had the benefit of being the smartest person in most of the rooms I've been in, and now work at a place I'm like 80% sure I am the dumbest person in the room.

I can tell you that it's way better being the dumbest person in the room than the smartest, and for that reason I'm pretty jealous of you.

This post was edited by Thor123422 on Dec 19 2020 10:10am

Any city that follows what you say literally hollows out their own economy within a decade. California and NYC are the best 2 examples.

The deciding factor within any argument is that if your prediction for the future was wrong, you were also wrong.

So the two biggest economies in the country have hollowed out their economies.

lol okay bro

Google "opportunity cost"

I'd bet money I have a better understanding of opportunity cost than you do

California and nyc put actual countries economies to shame.



So what you are saying is all the housing in that area just disappears?
The houses no longer exist?
Because thats what it seems like you are saying.

Hes assuming that housing wont be made or will be repurposed fir other means if you cap the price below the equilibrium created by supply and demand.

Which is wrong. But hes only capable of parroting and can never question the underlying assumptions of the theories he learns.

Hes the kind of person who would think I'm lying if I told him theres no such thing as covalent bonding in chemistry, not realizing that everything they teach you before graduate school is basically a useful lie.

This post was edited by Thor123422 on Dec 19 2020 01:08pm