There is a disastrous and ill-advised bill being considered by the County Council, and backed by the mayor, ostensibly with the purpose being to free up housing for local renters. But without taking the law of supply and demand into account, the exact opposite of the desired effect will take place. The end result will be a real estate crash that will be far worse than the crash of 2006 when property values went down by about 50 percent.
One high school teacher was very astute. He warned us in 1960 to be aware of rising China. Many articles expound the hypothesis that the future century will be China’s; perhaps, but there are flaws in the theory.