@mattyglesias is correct that public housing is not the main answer to our housing affordability crisis, but he misses 3 important roles that a renewed social housing program could accomplish. 1/x

Real estate markets are highly cyclical, which makes long-term employment in the construction sector less attractive than hourly wages might suggest, and reduces the overall market for construction labor. 2/x

A public housing program could engage in counter-cyclical construction spending to increase individual worker employment stability and the overall market for construction labor. 3/x

Relatedly, the cyclical nature of housing markets makes scaling more efficient, but capital-intensive forms of housing production, difficult. Modular fabrication has been the technology of tomorrow for the past 100 years, for instance. 4/x

During market downturns, traditional developers shed layers of contractors to stay afloat, an option that isn’t available when you own and pay taxes on a giant housing factory with many direct employees. 5/x

A public housing program could contract with these modular fabricators to help smooth their demand and grow that industry, which would eventually lower sector-wide costs of home building. 6/x

Lastly, the lack of competent state capacity – in public health, transportation, *managing existing public housing*, and in many other areas – is a real problem. 7/x

A new Housing Development Board could serve as a model for competent state management, like early days of Sen. Warren’s Consumer Financial Protection Bureau. (yes, I know this point is more speculative.) 8/x

That Matt and other critics of public housing miss these benefits of social housing is unsurprising. Most public housing boosters don’t talk about them! 9/x

Many public housing boosters are socialists, so they advance the social production and ownership of housing. Socialism is the main goal, not providing safe, secure, well-located, and cost-effective housing for those who most need it. And that’s fine! 10/x

California YIMBY is working on a social housing proposal with our legislative partners to accomplish these 3 goals. Stay tuned! 11/11