I actually work in the industry. I know developers that do a few homes at a time, and others that do midrise projects, and I am familiar with the ones that do skyscrapers. Everything newly built is luxury this and luxury that. Because there is such a shortage of housing they can cater towards only the high end and not worry about a lack of demand. You can look at Jersey City - in the last 10 years has built a ton of units per capita. Yet somehow all of it has been at the top end of the market. Whether they knock down a single family and put up two condos, whether they knock down a few houses and put up a mid-rise building, whether they build a six or ten unit building, or whether they build a 500 unit building. That's all it is. All top rate market value units. Rents have soared across the board, so have condo prices. People are getting displaced left and right because that is driving up all the rents, plus a huge chunk of landlords prefer to renovate when the lease is up and cash in on the top rents. Middle and lower class people are all pushed out. I've been part of deals that do that. This is for over ten years now, and you're going to tell me nobody is getting displaced or priced out? I've lived through it.
The fact is I have acknowledge a million times supply and demand is the big issue, and zoning laws are terribly restrictive, and I am all for building tons more housing. That has never changed. I don't need a lecture on supply and demand, it's all I talk about in regards to housing when I speak to NIMBY's.
But mandating 10% affordable housing is totally fair, and if you are strict about it, you think these developers are not going to still want the profits of the 90% units at high market rate. If you want to claim you are a liberal with empathy, you can work within the constraints of supply and demand and a measly 10% affordable housing mandate. You can make rules that help mitigate it for small-time developers. This is not rocket science.
To dismiss any affordable housing mandate is not based in reality of how it affects people, and simply lacks any empathy for people.