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by asdff
1458 days ago
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Because one only need to look at history in past times of housing crisis in our history. The response and solution to times of housing shortages and high prices has always been to build out more supply. There was a housing crisis in the 1940s due to decades of stagnation of building homes from the great depression and WWII, and homes were unaffordable, until the 1950s brought on supply that was not generated by government intervention but by private developers and even the Sears catalogue. About all the government did was stimulate the private market by providing capital in the form of the GI bill, and coupled with the available zoned capacity surrounding cities, developers were able to build and meet demand that now had capital to afford supply which was able to be built thanks to the available zoned capacity. Since the 1960s however, we've slashed our potential to add capacity (1), and prices have soared in markets like Los Angeles that were historically more affordable to wage earners. 1. https://www.cp-dr.com/articles/node-3717 |
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