re: #1183 lawhawk

So, NYC continues to operate as though the laws of supply and demand don’t matter. The City continues epic fail of economics 101 by calling for a new program to buy up unsold condos and coop units to resell them as “affordable housing”.

This only serves to inflate the prices of housing - making it more unaffordable and increases costs to the City’s taxpayers who have to pay for this program instead of letting the markets set the prices, which would continue dropping until buyers see a bargain.

Progressives are economic illiterates.