[OnlineGladiator]

> I trust in democracy more than markets.

I don't. People vote against their best interests all the time. The SF housing market is self-inflicted from people voting against new housing, because many of them don't understand the concept of supply and demand.

Neither markets nor democracy are perfect, but at least free markets are efficient.

[yellowapple]

> many of them don't understand the concept of supply and demand.

Or they understand supply and demand perfectly well, and figured out that if they legislatively block new development, fixed supply + growing demand = rising home prices = better investment.

[krapp]

>Neither markets nor democracy are perfect, but at least free markets are efficient.

Markets (free and otherwise) work against people's best interests all the time as well, in which case their efficiency is not a virtue.

[mrguyorama]

>but at least free markets are efficient.

Big ol' citation needed there

[booboolayla]

Maybe they understand that there's very little empty land to build housing on.