Refused due to overdevelopment

For anyone who contends that our housing crisis is a simple case of supply and demand, you are unfortunately quite wrong.  While supply and demand play a factor in our housing crisis, so does legislation.  Especially as we have put heavy restraints on who can build what and where.  That is of course if you're not the government, because if you were, the rules wouldn't apply to you.

So here we play witness to both a housing crisis and a shortage of affordable retail space and the top priority on the agenda is to build new hotels.  Of course, resurrecting our tourism industry is important so we don't rely on a one pony economy, but is it more important than affordable housing and living for Bermudians?

Comments

[De Onion]

Government rules prevent supply - it's still a supply and demand issue, just with an artificial supply curve.

[Denis Pitcher]

Perhaps the correct thing would have been to say those who believe "market forces" drive supply and demand