Comment by chasd00
2 days ago
i can see what they mean. Another way to think about it is like how adding a lane to a highway doesn't decrease traffic it increases it. There's no shortage of demand in densely populated areas otherwise they wouldn't be densely populated. Adding more units will be met with more demand like adding a lane to a highway is met with more cars on that highway. Fix it by making the area less dense and prices will drop like how the way to fix a busy highway is to decrease the cars on it and traffic will lighten up.
True, but typically this also means fewer jobs, local economic contraction, and eventually neighborhoods full of decaying empty properties as in Detroit. They did achieve lower density, as many abandoned homes were forcibly demolished. Housing is cheaper now too.
It seems much more realistic to freeze growth than reverse it. Even then, growth in surrounding areas or other factors can quickly make the area more desirable and expensive as in SF.