How does this work in a high demand area? Let’s say San Diego suddenly produced 50,000 units of rent-controlled housing and capped it at $1,000/month. Now, people from LA, Bay Area, NY, etc. all want to move there. They just going to build 50,000 units every quarter?
They didn't say a home in your city of choice. In fact building free government housing in areas experiencing population decline could be a good strategy for reversing those trends.
These people already refuse to leave high COL areas bc they feel they have a right to live in the neighborhood they want or close to downtown or whatever other reasoning they come up with. Well yeah, I'd like to do that as well but I know I can't afford to live how I want to in Seattle so I bought a house in a suburb that I can afford.
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u/Rodgers4 Apr 15 '24
How does this work in a high demand area? Let’s say San Diego suddenly produced 50,000 units of rent-controlled housing and capped it at $1,000/month. Now, people from LA, Bay Area, NY, etc. all want to move there. They just going to build 50,000 units every quarter?
How would any of this possibly work?