Increase in Housing Supply Doesn't Just Help the Rich

City Observatory's Joe Cortright disputed the premise of a recent Washington Post article, which claimed that building new housing only results in lowering housing costs for the rich, at the expense of lower-income renters. Cortright uses data for Portland from ZRI to show that highest tier rents are the most volatile - since 2015 that market segment has seen the highest rates of increases and decreases - but middle and low tier rents have followed a similar trajectory as large numbers of new units have come on line. Read more.