A skeptic's take on the housing crisis: 'The developer is the good guy'

Read Article

Summary 

This article’s core thesis is that simply removing zoning limits and “letting towers be built everywhere” will not deliver affordability. Patrick Condon, an author and University Professor, is quoted as arguing that the binding constraint is land speculation:upzoning raises the permissible use of land, which drives up land values and lets speculators capture the windfall, while the price per square foot of built housing doesn’t fall as theory predicts. = He points to Vancouver, which tripled its housing units (not just downtown towers but gentle infill citywide) yet remains among the least affordable markets; hence, he says that if your solution is just deregulating zoning, “you’re gonna be disappointed”. His prescription: do not give away new land rights unless they come with affordabilityconditions—otherwise policy “helps speculators” more than communities.