Comment by burnt-resistor
2 days ago
Totally wrong strawman missing the bigger point. It's still a vague, misguided utopian ideology focused on helping the rich supposedly "overproduce" while doing nothing for everyone else. That's trickle-down economics 101.
Well, you have the economics wrong, and our ability to handwave at each other about whose policy is "miguided" and "utopian" seems like a pretty boring conversation. Regardless: it's obviously not "trickle-down economics". Trickle-down economics are policies that deliberately and directly subsidize the wealthy in the hopes of spurring demand.
Supply and demand is not an ideology, it’s the most fundamental way that pricing works in a capitalist society. Has been studied for centuries. To think that supply and demand would not apply to housing and instead be trickle down economics is a hell of a statement.
The Supply and Demand model makes some assumptions that are not always true (perfect competition, for example).
The model isn’t an ideology, it is just a model. But there are a lot of ideological beliefs around this stuff. Some people seem to think that all markets have perfect competition, or that the resulting efficient pricing is inherently always good.
Housing seems pretty far from perfect competition to me.
https://en.wikipedia.org/wiki/Perfect_competition#Idealizing...