[quote=The-Shoveler]If you get just a recession prices might drop 10 or 15%, OK that would help, but it would be temporary and not enough for most to really feel affordable.
Without building (or over-building really) you are still left with more people than housing.[/quote]
Shoveler, we are NEVER left with more people than housing …. that is, unless our “excess people” are all living on the street.
Take Silicon Valley, for example. Those workers who work there but cannot afford to live there (or who cannot afford to live in what they want to live in there) move across the bridge(s) to more “affordable” housing and commute into SV every workday. Those SV cities do not have “more people.” They have only the people who were longtime owners and bought “cheap” or the people who are willing and able to pay the price to live there. The rest of SV’s workers who are its “aspiring citizens” live elsewhere.
It’s all as it should be … by design. If all of SD County’s housing is eventually absorbed and we essentially have a 0% vacancy rate (unlikely), we will not have “more people” (unless they are homeless). We will have only the amount of people we can house. Any people who want to live in SD County close to work but choose not to pay the price or accept the housing on offer which they can afford here will live in another county (Riverside?) and commute to their jobs in SD County every day.
