Philly City Council Passes the Kenyatta Johnson Housing Shortage Bill Unanimously

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Chris Sawyer is depressing me:

As expected, City Council ignored everything and invoked Councilmanic Privilege, the misguided belief that anything a member of Council proposes for his district, must be cool and no one on Council will question it.

Here I am again explaining why seizing expensive land parcels and selling them for below-market rates is one of the nuttiest ideas ever dreamt up by a politician:

The problem for the theory that expensive land should be sold for less than the market price is that it means all the other land will end up selling for even more. By keeping expensive land off the market or selling it below market rates, you’re making the rent increases worse for most of the people you say you want to help. The only solution that’ll push rents down is more building, like to the point where developers are building a little too much and dumping more housing units on the market than there’s demand for.

Does Councilman Johnson also think that the solution to rising milk prices is to seize a small fraction of the nation’s milk inventory and sell it to folks below cost?

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One Response to Philly City Council Passes the Kenyatta Johnson Housing Shortage Bill Unanimously

  1. Pingback: A Brief Aside: the Kenyatta Johnson Land Grab Bill | Sic Transit Philadelphia