The Problem With Lottery Housing
The Problem With Lottery Housing
This article critiques the use of housing lotteries in major liberal cities as a method for allocating "affordable" housing. It argues that this system, while seemingly fair, creates "hidden markets" that are inefficient, reward bureaucratic navigation, and fail to address the fundamental problem of housing scarcity. The author suggests that demand for below-market-rate housing will always outstrip supply, and that lotteries distract from the need to expand overall housing supply to achieve widespread affordability.
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fascinating point that lotteries give enough false hope that they lead people to overweight the probability and thus invest less in the underlying problems: not enough housing.
the call back to 1984 was disheartening.
the need for cities to invest more in the problem runs right smack into the need for property to be affordable and accessible, not vehicles for investment.
let's see what new york does in the next ten years...
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