Didn't Japan in the 1960s and 70s follow exactly the expansionary supply recipe that this article implicitly recommends?

Not only did this not make home ownership more affordable but it created a real estate and financial services market bubble that dwarfs that now experienced in Vancouver and Toronto and the collapse of that bubble threw Japan into a decades long deflationary recession from it is yet to recover.

Currently, mainland China is experiencing both residential real estate inflation and massive areas where condos remain empty.  This all goes to show that location is everything and that inflationary pressures relative to housing in prime locations cannot be overcome by simply creating supply in other locations.

Housing policy is a very complex matter and simply one-step solutions to one set of problems too often only make more problems.






mr. Cox implies we should