Read the piece on kevinerdmann.substack.com ↗
Every claim below was made in this piece, quoted word for word and numbered in the order the piece makes them, so you can read it there rather than take our word for it. The sentence above each quote is our reading of the claim, not their wording. Each quote was checked against a stored copy of the page at build time; where the two differ, the quote is the fact.
Their wordsI would add that downward filtering is a prerequisite to any affordability strategy, and it can't really happen without adequate market rate housing.
Their wordsThe poorest homes in each city literally cannot become affordable unless land all across the market loses the same scarcity premium.
Our reading
Market-rate housing of any type is the most effective way to eliminate land scarcity premiums.
Their wordsThe most effective way to get rid of the scarcity premium is market rate housing of any type that developers want to build.
Keep reading