Concepts: Elasticity of housing supply
How should we think through the dynamics of housing markets?
Conceptually, there’s a very simple answer and a very complex one. The simple version is that housing is just another market, shaped by the interaction of demand – i.e. people turning up with money to buy dwellings – and supply – people building new dwellings to meet demand.…
42 Comments Sunday reading 1 November 2015
The big news this week was the decision of the Vancouver City Council to remove their clunky viaduct. Like the Dominion Road Flyover the viaducts are a legacy fragment of a wider scale scheme that was never realised. To this day the viaducts remain an asterisk for one of the only North American cities to resist the widescale incursion of motorways into the city centre.…
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