[westbywest]

> This is just a ridiculous HN meme at this point: every problem is caused by regulation and the only tool we're allowed to use to solve problems is incentives.

A data point amplifying this assertion is the situation in St. Louis, where tax incentives are handed out like candy to almost exclusively luxury developments. The city has seen several credit downgrades since 2015, with weak revenue raising ability cited in the most recent instance. The higher interest rates the city now pays on its financing are part of the reason why growth in tax revenue (including several sales tax hikes) has been fully nullified by cost increases, with the result being a net loss. Affordable housing development is sparse, since it's obvious to builders where they get the most favorable discounts.

[JoeAltmaier]

In our local town, the old warehouse district development was 'incentivised' with rent subsidies for new construction. So luxury construction was done, and the rents are exactly the same as everywhere else. The landlords sucked it up for themselves. Strangely, they stand mostly empty.