Submitted by RealBurhanAzeem t3_yd4jwf in CambridgeMA
1minuteman12 t1_itxte8f wrote
Reply to comment by Cav_vaC in Cambridge completely eliminated parking minimums yesterday!! by RealBurhanAzeem
The price of grain or oil doesn’t drop if the supply only increases marginally and that increase still doesn’t meet or exceed demand. That is especially true if grain and oil sellers decide that long term profits will be higher if they set a price based on the current market and hold or let spoil some of the product that doesn’t sell, while making fewer sales at a higher price point. People in here learned supply and demand in high school and just regurgitate that term as if it will cause some magic fix. There are literal studies and theories widely accepted in macroeconomic circles that argue capitalist society has moved beyond supply and demand based concepts for staple goods such as housing, food, etc.
IntelligentCicada363 t1_itzddaw wrote
And yet, here we are living in a region with artificially constrained housing supply with incredibly high demand for that housing. Sounds like “high school economics” to me.
1minuteman12 t1_itzfs3r wrote
No that’s late stage capitalism, which is significantly worse
Cav_vaC t1_iu18vrv wrote
There are a ton of studies showing the also obvious truth that more market rate housing reduces rents (compared to what they would have otherwise been).
Viewing a single comment thread. View all comments