this post was submitted on 12 Aug 2023
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No, market failures exist. It’s not all supply and demand. The cartoon economic world of libertarians is not reality.
That said, we do have a supply problem. Vacancy is essentially zero in Canadian cities, and that’s not true in more affordable housing markets like the US or Japan.
Huh? Supply and demand is an observation of human behaviour. Market failure is equally observable through the supply and demand lens. It too is ultimately human behaviour.