The Cure for Costly Housing Is More Costly Housing

Lifting limits on construction lowers rents in hot cities. Restricting development does the opposite.

This is going to work.

Photographer: Sanjit Das/Bloomberg

I was talking to a friend the other day, a San Francisco anti-eviction activist, and said that allowing more housing construction in the city would be a great way to lower rents. She looked at me in horror, blinked and asked “Market rate?” I nodded. She was speechless.

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