#Gentrification problem: paucity of housing supply and increasing demand. @burghDiaspora

#Gentrification problem: paucity of housing supply and increasing demand. @burghDiaspora

On one side of the gentrification problem, we have a paucity of housing supply. On the other side, we see increasing demand. I labor to detail gentrification from the demand side of the equation. Daniel Kay Hertz takes me to task for misstating the results of a real estate market analysis laboring to detail gentrification from the supply side of the equation: If the problem weren’t related to “demand for housing outstripping supply,” new construction wouldn’t matter. But here the authors are telling us, very straightforwardly, that the solution is to “[grow] the quantity of houses.” In other words, allow supply to match demand. Maybe what’s confusing is Jim’s equation of “strong population growth” with “strong demand for housing.” In a place where zoning allows new construction, those two things are the same. But where zoning makes building new homes illegal, you will, in ...

Full article: http://sustainablecitiescollective.com/jim-russell/250876...

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