[ixacto]

Houston does not have zoning, and the sky has not fallen there. What we have in the rest of the country is an incentive structure that is firmly on the side of rent-seeking and NIMBYism.

It is literally built into our tax code, with the mortgage interest deduction and California’s subsidy of the boomer Generation with the drastic reduction of real estate taxes.

It is ridiculously easy to solve the housing problem in SF, just tear down the single family homes and replace with high rise apartments at HK-level density. But the entrenched interests don’t want to do that.