[cycrutchfield]

What’s with all the handwringing over investors and developers? Yes, some people will benefit from this decision, just as some people would have benefited from the opposite decision. Who cares? The only thing that will reduce housing prices is more housing being created.

[nitrogen]

People want more than just housing from housing. Some people want a system of wealth distribution to allow new entrants to the market (the young and/or disadvantaged) to build capital. Some want a place that they can call their own and customize as they see fit. Some want to be invested in a community. Some don't want to have to listen to and smell their neighbors through cheaply built shared walls.

If the existing capital holders build a bunch of rentals, then many of those goals are not possible.

[0815test]

People have all sorts of delusions. Cheaper housing, by and large, makes it easier for new entrants to build wealth, whilst having a place that they can call their own.

[cycrutchfield]

That’s great and all. Let’s just continue with single family homes then. You know what’s better than that young couple having to rent for a while instead of buy? Having them be priced out completely and forced to commute from an hour away or move out of the area entirely.