After weeks of waiting, California’s governor signed a bill that will allow mid-rise apartment buildings near major transit stops in California’s biggest metro areas.
Supply and demand are not 100% representative of market realities due to externalities, as you say. But there is a market and that market is responsive on some level (even sublinearly) to supply and demand. This is not a solution to the problem but it is a step in the right direction. Where do you want public housing to be built, next to rail lines or in the middle of nowhere? This legislation makes it possible to build public housing near rail lines by getting rid of zoning laws that previously prohibited it. Take the small wins where you can.
You see a dark cloud in this silver lining. You dont have to. Doomerism doesnt motivate action, it dissuades it.
Supply and demand are not 100% representative of market realities due to externalities, as you say. But there is a market and that market is responsive on some level (even sublinearly) to supply and demand. This is not a solution to the problem but it is a step in the right direction. Where do you want public housing to be built, next to rail lines or in the middle of nowhere? This legislation makes it possible to build public housing near rail lines by getting rid of zoning laws that previously prohibited it. Take the small wins where you can.
You see a dark cloud in this silver lining. You dont have to. Doomerism doesnt motivate action, it dissuades it.