There’s simply no good alternative to increasing the quantity of dwellings available in the expensive parts of expensive metropolitan areas. Whether that’s done purely by re-legalizing market-rate construction, by reviving public housing, or with a mixed strategy like inclusionary zoning, there’s no getting around the fact that the raw number of units and their location matters a lot.
When America had a primarily agricultural economy, giving ordinary people access to arable farmland was a key driver of economic opportunity. Now that we have a primarily services-based economy, giving ordinary people access to prosperous cities is a key driver. If we don’t do it, people will still find a place to live, but their life prospects will be permanently the worse for it.
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