Submitted by Jason Pappas, Dec 4, 2006 13:32

I'm aware that the means of saddling developers with "below market rent apartments" takes the form of a zoning restriction that is subsequently removed when developers submit to the requirements desire by the government. It's the massive laws and regulations that prevent the housing industry from creating the inventory required to meet demand at a lower price level. The regulations should be suspended across the board so that construction isn't hindered in the first place.

Supply is what is needed to bring down prices. If housing isn't built for the rich do you think they disappear from the face of the earth? What happens is that they seek housing in the existing housing stock and bid up the prices for everyone. And yes someone will be left without housing; the rich will find their place on the "housing bench" and the person at the other end will be nudged off the bench. Let's liberalize zoning to allow more building at lower cost.

Note: Comments are screened, and in some cases edited, before posting. We reserve the right to reject anything we find objectionable.