05-15-2016, 04:28 PM
(05-15-2016, 03:14 PM)darts Wrote:(05-15-2016, 03:07 PM)MidTowner Wrote: If they really need the parking, they'll pay for it. If they really need it but aren't willing to pay for it, they'll move someplace where it's a price they are willing to pay, won't they?
Developers would build the least amount of parking they could get away with, wouldn't this lead to parking shortages and cause people to move to new developments outside of town. which would cause one spouse to drive into town if they work in downtown kitchener causing more congestion into downtown. It looks like it would encourage sprawl.
No. It would increase the price of parking, which would tend to lead to the construction of parking. This is basic ECON 101. I mean, I don’t want to completely dismiss concerns, but subject to some assumptions about externalities, consumer information, and public goods, individual market participants will do a better job of determining how much of a good to supply than any sort of central planning office. Parking is an awfully expensive good to be forcing people to bundle with residential accommodation. It’s not at all like requiring that proper smoke alarms be installed.