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A lesson for Melbourne – the world’s most “liveable” city
Melbourne is the world's most “liveable” city. Or so they say.
As a general rule I don't talk much about Australian policy on this blog, and definitely not about Victoria. So I won't provide much comment except to point to the following useful article, and note one of its key insights.
Article: Why Do Houston and Dallas Continue to Grow?
Insight:
Houston was founded by real estate developers and carried with it a philosophy of minimizing burdens for those who wished to build. Conversely, cities like New York and San Francisco have shifted towards restrictions that greatly limit development.
New York retreated toward policies of “neighborhood preservation”, high-rise restrictions, rent controls, and difficult development requirements. The end result is that cities like New York and San Francisco are unable to meet their demand for housing, which creates massive upward price pressures.
Read more at Sanjeev Sabhlok’s Occasional Blog-Economics
Source:
