Vancouver study shows how the Yimby narrative has failed, in real time

Unlike the YIMBY narrative that blames zoning for what’s been incorrectly labeled a 'housing crisis'—which is actually an affordability shortage—Patrick Condon uses Vancouver as a real-world example to show that upzoning doesn’t solve the problem. In fact, it worsens it by fueling speculation and driving up land prices, a conclusion echoed by the Harvard Business Review (see below). Upzoning essentially transfers wealth to landowners along select corridors, while displacing existing affordable housing for small businesses and renters, leading to gentrification. Right now, San Francisco is giving away this land value to developers without effectively addressing housing affordability. Read Full Article.