‘Equity’ is a Cover for Redistributing Wealth to Single-Family Home Owners
The housing discussion in Seattle is so rife with jingoism and rhetorical sawdust that trying to figure out what the housing problem ( if there is a problem at all) might be and how best to solve it is exceedingly difficult. Phrases like “social justice” and “equity” are frequently thrown about and it is impossible to tell […]
Commercial Linkage: Math that Makes You Go “Hmmmm.”
For years we’ve been saying that the best thing to do if we want housing prices to stabilize or even go down is to build lots more housing, including subsidized housing. The basic economic principle is that price—whether it is for an apple at the local grocery store or Napoleon’s hat—is a quantitative measure of […]
Seattle Times Right and Wrong on Grand Bargain
The Seattle Times weighed in yesterday on the passage earlier in the week of key legislation that starts the City down the road of mandatory inclusionary zoning through the much hyped Grand Bargain. We’ve pointed out that, so far, the math isn’t working: the mandatory upzones proposed for neighborhood builders will cost more than the rent revenue […]
