It would seem to me that, even in that case, building new housing increases the housing price in that local area, while not building new housing increases the housing price everywhere.
Is there an alternative plan to make housing prices decrease? The long term is at least better than never.
I know there's the whole thing where you designate certain units as subsidized affordable housing and have people on a lottery/waiting-list to get it, and having some of that probably helps in the short term, but at least in Cambridge the subsidies are becoming unsustainable. Even people making six figures end up needing subsidized housing.
One alternative plan would be to subsidize economic development in underpopulated cities. It's not healthy for our societies long term to squeeze everyone into just a few geographically constrained areas.
Is there an alternative plan to make housing prices decrease? The long term is at least better than never.
I know there's the whole thing where you designate certain units as subsidized affordable housing and have people on a lottery/waiting-list to get it, and having some of that probably helps in the short term, but at least in Cambridge the subsidies are becoming unsustainable. Even people making six figures end up needing subsidized housing.