[Durham INC] Fw: Bloomberg News on how well loosening regulations is working

[Pat Carstensen]

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From: colonywoodsnc at googlegroups.com <colonywoodsnc at googlegroups.com> on behalf of Pat Carstensen <pats1717 at hotmail.com>
Sent: Friday, April 21, 2023 5:42 PM
To: colony woods group <colonywoodsnc at googlegroups.com>
Subject: [ColonyWoodsNC] Bloomberg News on how well loosening regulations is working

I want to move into the apartment they describe in  Austin

https://www.bloomberg.com/news/features/2023-04-21/luxury-apartment-boom-pushes-out-affordable-housing-in-austin-texas

Inconveniently for the Yimbys, Austin, like other cities, is still way more expensive than it was years ago, even though it’s built so many apartments. As a result, a small group of academics is starting to question the free-market path. These critics note that the market leads developers to build luxury housing on scarce and sought-after property to maximize the return on their investment. “Yimbys say, ‘We have to let the market build,’ ” says Benjamin Teresa<https://wilder.vcu.edu/people/faculty/benjamin-teresa.html>, an urban planning scholar at Virginia Commonwealth University. “But what kind of housing are you building, and for whom?”

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