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> But the narrative is of course nonsense. The crisis in housing is not of capacity but of affordability

I’m baffled by people who believe the law of supply and demand doesn’t apply to housing.

Or those who talk about supply and the need for environmental deregulation to stimulate supply but never consider questions about what exactly is driving demand (hint: it’s not increasing birth rates), before you give up on environmental impact protections.

> > Such houses, the wrong houses on the wrong sites, won’t bring prices down.

They even openly state that certain types of houses are immune to the law of supply and demand.

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