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Head_Acanthisitta256 t1_j6237f8 wrote

Reply to comment by psychothumbs in Mayor Adams unveils proposal to convert Midtown offices into apartments by psychothumbs

The theory that increasing HOUSING supply will lower market rate prices for a neighborhood. The market will artificially inflate market rate pricing to make a profit(by not even creating affordable housing). L.I.C. and Downtown Brooklyn for example.

The only way to create affordable housing is to ACTUALLY build affordable housing. Not exclusively build luxury or market rate units that only raises market rates in a neighborhood.

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psychothumbs OP t1_j63c4sa wrote

Housing is not some magic exception to how supply and demand works. The way they are artificially inflating the market rate is by limiting supply, and that's what we need to change.

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Head_Acanthisitta256 t1_j63cdil wrote

Limiting AFFORDABLE housing!!!!

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psychothumbs OP t1_j63cksp wrote

Well supply of subsidized 'affordable' housing but also the supply of market rate housing, which results in the market rate not being affordable for many.

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