Steve Randy Waldman
@interfluidity.com

( i'm sure i've pointed you to this before, but if you have the patience for my broad theory of the case, this is probably a good starting point drafts.interfluidity.com/2024/06/13/y... )

Yimboree

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Steve Randy Waldman
@interfluidity.com

Here we'll disagree. I think the choice to center housing abundance around infill over the preferences of existing homeowners in already sought after places is the quintessence of a bad, teeth-pulling decision. 1/

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Steve Randy Waldman
@interfluidity.com

It was a kind of original sin that's distracted us from more fruitful approaches, which would involve more overt public risk-bearing by building on initially less-sought-after greenfields, and trying to turn those into new desirable places. 2/

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Steve Randy Waldman
@interfluidity.com

The anti-NIMBY trench warfare approach to me has been a catastrophic enemy of the good. Because great places aren't inherently scarce, but the approach implicitly accepts existing scarcity (of neighborhoods and cities that are desirable) and has us fighting over control of those. /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

Antitrust regulations might! The "landbanking" critique of big homebuilders is contentious, but there might be something to it. (I think! I think some of the rebuttals substitute a kind of glibness for critique.) Vacancy taxation might! 1/

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Steve Randy Waldman
@interfluidity.com

Are antitrust and vacancy taxation "existing"? To a degree I think. Perhaps more importantly, a public option might. 2/

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Steve Randy Waldman
@interfluidity.com

Public options, as @jwmason.bsky.social seminally wrote, are a very general mechanism that can be deployed when the private sector fails to provide or organizes to restrict, price elasticity. jwmason.org/slackwire/pu... 3/

Public Options: The General Case – J. W. Mason

in reply to self
Steve Randy Waldman
@interfluidity.com

Social housing, a public option, does, despite the Faircloth Amendment, exist to a degree! /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

Lots of YIMBY criticism from the left is the same! We say (of eg Yglesian YIMBYs) they often promote less-than-great policies because they prefer developers under the profit motive to pour in and build housing without an overt fiscal cost when superior approaches would involve overt public finance.

in reply to this
Steve Randy Waldman
@interfluidity.com

Yeah. It's Two I'm reacting to, where effectively the buyers of market-rate units are called upon to subsidize the residents of affordable units. (Along with the developer, sure. the burden will have some incidence both on market-rate buyers and developers.)

in reply to this
Steve Randy Waldman
@interfluidity.com

Well, I've enjoyed chatting with you, so your failures are not without their virtues, from my perspective.

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Steve Randy Waldman
@interfluidity.com

I am grateful for you to do your thing! We all have things. We don't need to shit on one another's things!

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Steve Randy Waldman
@interfluidity.com

I agree! I'm not at all a just-let-the-market-do-its-magic kind of guy, but "inclusive zoning" is a form of sliding scale pricing, imposing certain social costs we should collectively cover on arbitrary others who happen to be adjacent. 1/

in reply to this
Steve Randy Waldman
@interfluidity.com

When we want to purchase social goods, the purchaser should be the we that we compose as a government, with the burden sharing we democratically enact via tax policy. 2/

in reply to self
Steve Randy Waldman
@interfluidity.com

The issue is, which doesn't fall cleanly left or right, is that lots of people like to hide the existence of burdens and any proper accounting of upon whom they fall. 3/

in reply to self
Steve Randy Waldman
@interfluidity.com

Inclusive zoning is palatable to people on the right, because it's not overtly building social housing. It's palatable to people on the left, because you get units of affordable housing for people. 4/

in reply to self
Steve Randy Waldman
@interfluidity.com

But it'd be better if the state just bought units of affordable housing, and regulated the marketplace to ensure the provision is competitive and price-elastic. 5/

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Steve Randy Waldman
@interfluidity.com

(There are lots of parallel cases. The fact that most college students don't pay the full "sticker price" for tuition is a way to get wealthier parents to subsidize poorer students.) 6/

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Steve Randy Waldman
@interfluidity.com

(But why should the burden of subsidizing poorer students be restricted to wealthy people who happen to have college age kids? Wealthy childless people should chip in at least as much!) 7/

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Steve Randy Waldman
@interfluidity.com

(But a sliding scale "looks" progressive, and hides redistribution in prices and price discrimination rather than overtly enacting it in government. So we ubiquitously and unjustly resort to it.) /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

i did see it! but the capitalization does matter. ie how much of a priority should working to alter land use regulations and oppose NIMBYs so that private developers can build in already sought after places versus other approaches, like social housing or "derisking" speculative greenfield projects?

in reply to this
Steve Randy Waldman
@interfluidity.com

in finance there is always a big beautiful boom before the crisis. and those well placed to benefit from the boom, people who, with the money they will make, can insulate themselves from the crisis, pay politicians to promote rather than restrain the cycle.

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Steve Randy Waldman
@interfluidity.com

#evergreen

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Steve Randy Waldman
@interfluidity.com

Because it follows directly from stuff Ezra says — in a hedged way, maybe this tradeoff is good, but he points out this precise tradeoff, it is his anecdote. And individually all the tradeoffs look good. His claim is they compose to catastrophe. 1/

in reply to this
Steve Randy Waldman
@interfluidity.com

The problem is the emphasis on DE- regulation rather than RE- regulation. Do we need to revisit some tradeoffs and revise how we do things? Sure. Do we need to just get rid, without replacement of workplace safety rules or regulations that require air filtration for homes near freeways? 2/

in reply to self
Steve Randy Waldman
@interfluidity.com

In a Motte / Bailey kind of way, a lot of the abundance prescription says the answer is yes. The motte is "well, maybe not, maybe this one actually is worthwhile", but the bailey is "regulation is the problem, we have to get rid of a lot of it". 3/

in reply to self
Steve Randy Waldman
@interfluidity.com

Again, I think it's a bad idea to conflate the YIMBY movement (itself a broad and fractious tent) with the Ezra Klein / Derek Thompson Abundance intervention. 4/

in reply to self
Steve Randy Waldman
@interfluidity.com

When I've described eliminating zoning rules as the *sine qua non* of YIMBYism, people like @resnikoff.bsky.social tell me I'm out of date, YIMBY is a much more broad-based pro-housing church that includes eg support of social housing and doesn't place deregulation above other approaches. 5/

in reply to self
Steve Randy Waldman
@interfluidity.com

I think that's a fair cop! But conflating the Ezra Klein / Derek Thompson Abundance intervention with YIMBYism is largely reverting to and conceding my prior, overly narrow view. I don't want to be reductive of Ezra and Derek either! They both support developing state capacity in other ways. 6/

in reply to self
Steve Randy Waldman
@interfluidity.com

But the heart of their critique really is the everything bagel, that liberals fail by demanding "too much", not by demanding what they ought to demand, but perhaps in ways that need to be improved. 7/

in reply to self
Steve Randy Waldman
@interfluidity.com

That's a really important distinction! 8/

in reply to self
Steve Randy Waldman
@interfluidity.com

Are you are asking people to surrender goals like air quality and workplace safety because getting housing done is lots more important, or are you asking people to prioritize and organize in ways that reconcile the production of key goods like housing with achieving other goals? 9/

in reply to self
Steve Randy Waldman
@interfluidity.com

The pushback Ezra and Derek are getting isn't because anyone (well, anyone besides a few degrowthers) opposes, say, housing abundance. We all want housing abundance! But we don't want it as a monomaniacal priority that bulldozes other priorities. 10/

in reply to self
Steve Randy Waldman
@interfluidity.com

Where there are tradeoffs, we actually have to think about how to make them, or whether there are ways of reorganizing what and how we are acting to render the tradeoffs less severe. 11/

in reply to self
Steve Randy Waldman
@interfluidity.com

If something is presented as a silver bullet, a simple unifying idea a fractious Democratic coalition should unite behind, it's probably trading off for that "unity" and "coherence" that work of acting with bespoke attention and care. And there are things a lot of us mean to keep caring about! /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

see Ezra www.nytimes.com/2023/02/05/o... quite explicitly describing workplace safety as a problem (via google books, i think the same anecdotes are in the book, but i haven't read it yet). 1/

Link Preview: 
Opinion | The Story Construction Tells About America’s Economy Is Disturbing (Published 2023)

Opinion | The Story Construction Tells About America’s Economy Is Disturbing (Published 2023)

Link Preview: Opinion | The Story Construction Tells About America’s Economy Is Disturbing (Published 2023)
in reply to this
Steve Randy Waldman
@interfluidity.com

it's not clear he's saying workplace safety standards are a *problem* exactly. he acknowledges there are tradeoffs, and is explicit that this might be a good tradeoff. but it's provided in a context where lots of individually seemingly justified tradeoffs are alleged to compose to sclerosis. 2/

in reply to self
Steve Randy Waldman
@interfluidity.com

(in general, i don't think equating the Ezra Klein / Derek Thompson abundance intervention with YIMBY is right. they're clearly related, but not the same thing. you can be a YIMBY and enthusiastic or unenthusiastic about their generalization of certain YIMBY housing ideas to domains far afield) /fin

in reply to self
Steve Randy Waldman
@interfluidity.com

"If we are to have derisking for capital, why not for labor too?" Broadly excellent on the *Abundance* kerfuffle, by @briancallaci.bsky.social jacobin.com/2025/06/abun... ht @besttrousers.bsky.social

Link Preview: 
To Get Abundance, We Need to Discipline Capital: Concerned to increase the supply of housing and improve infrastructure, some on the Left have come to embrace the “abundance agenda.” But what capital needs is discipline, not deregulation.

To Get Abundance, We Need to Discipline Capital

Link Preview: To Get Abundance, We Need to Discipline Capital: Concerned to increase the supply of housing and improve infrastructure, some on the Left have come to embrace the “abundance agenda.” But what capital needs is discipline, not deregulation.
Steve Randy Waldman
@interfluidity.com

You'd think the big, America First interest in an Israel-Iran War would be its containment, ensuring it does not expand to become a resource-draining commitment or a larger conflagration that threatens American lives and property.

Steve Randy Waldman
@interfluidity.com

Whatever you think of the merits of the TikTok ban, it is the Congressionally-mandated, Supreme-Court-reviewed, law. There is no basis for it not to be enforced. I hope the firms that are failing to comply with it on Trump's sayso eventually face the steep penalties the actual law imposes.

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Steve Randy Waldman
@interfluidity.com

I was just editing like a 16 post thread. Lame, I know. But in the middle of my editing, BlueSky became a blank login screen, forced me to sign in again. When I did, my thread was gone. That's probably 40 minutes of work lost. I'm really angry about it. cc @support.bsky.team

Steve Randy Waldman
@interfluidity.com

#evergreen

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Steve Randy Waldman
@interfluidity.com

Schrödinger's felony.

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Steve Randy Waldman
@interfluidity.com

some of them do seem to have unusual access to transportation options. so we can hope!

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