15 December

The idea that more ‘supply’ will fix housing prices. If prices drop hugely for existing houses, people who own them are in deep shit. So the idea is, we’ll just build lots more houses for people who don’t have one yet, which will create a glut that will make those new houses much cheaper. Except that same glut would make all houses much cheaper, including the ones already owned. See how ‘supply’ is an idiot nothing idea?