“Supply and demand” argument ignores the reality on the ground — market-rate housing isn’t bringing down costs
The Chron’s C.W. Nevius announced last week for all the honest world to see that the law of supply and demand is alive and well in San Francisco and that one needs only to look to the South of Market to see its reality.
Nevius, who believes that the sit-lie law solved homelessness, that Scott Wiener was the “smart money” winner in June, and that San Francisco is a center-right voting town that somehow elects progressives, asserts that:
So in places like SoMa lots of new housing was added and prices have come down, and in places like the Mission, where the new housing stock is low, prices are staying high. Sounds, to me, like supply and demand…
Looks to me that the facts show the “law of supply and demand,” at least as explained by Nevius, still don’t apply here… (more)