Quiet Suicide of Urban Liberalism: With Sixty-Nine Stab Wounds in the Back
Nathan Newman discusses the destruction of affordable housing in major cities (in this case New York). (via Atrios)
Enacted in the name of preserving "the character" of local communities, this is more in the nature of a neutron bomb, keeping the buildings while driving out the working class families who once could afford to live in the city. With a projected demand of 300,000 new people looking for housing in the City in coming years, the inevitable result of limiting the housing supply is soaring home prices.