It's the "spiral" part (i.e. self-reinforcing vicious process).
Dense cities allow employers to get access to a larger pool of workers, giving them a competitive advantage. This in turn makes cities more attractive for workers. Since land area is conserved and people won't commute for much more than 30 minutes, it means cities have to increase the density.
This in turn makes cities more attractive for employers, driving the demand for housing even higher.
Rinse, wash, repeat.
> That may sound like hyperbole but that is the end result of NIMBYism and illiberal land use policy.
There is literally no city in Japan, US or in major EU countries that managed to build its way out of high housing prices. Not a single one.
Dense cities allow employers to get access to a larger pool of workers, giving them a competitive advantage. This in turn makes cities more attractive for workers. Since land area is conserved and people won't commute for much more than 30 minutes, it means cities have to increase the density.
This in turn makes cities more attractive for employers, driving the demand for housing even higher.
Rinse, wash, repeat.
> That may sound like hyperbole but that is the end result of NIMBYism and illiberal land use policy.
There is literally no city in Japan, US or in major EU countries that managed to build its way out of high housing prices. Not a single one.