May 3, 2023Liked by Kevin Erdmann

Kevin, thanks for this beautiful explanation.

Exacerbating all of this is the fact that homeowners *like it* when the cost of the existing stock increases rather than decreases over time. Why shouldn't the original owner of a second-tier unit be glad that a rich person will buy their old unit at a premium?

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You bring up a good point.

All the pressures build to be greater and greater on the residents with the lowest incomes, and so the difference between being an owner or a renter also gets heightened.

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May 4, 2023Liked by Kevin Erdmann

It can only change when the incumbent homeowners are out-voted or out-flanked by the YIMBY cohort. See exhibit A: Montana.

The rich can also make a calculated decision to either support or ignore reforms that work against some of their immediate interests if they want a community where the help can live close by. I'm hoping this happens in a few places in New England, but I'm probably naive.

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