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by wilg
1124 days ago
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The TL;DR here is that California has a housing crisis, which caused homelessness, which caused people to look into a bus stop design which doesn’t serve as a proper shelter. Here’s a data-driven argument that homelessness is a problem with lack of homes, more so than mental health or drugs or whatever else: https://www.noahpinion.blog/p/everything-you-think-you-know-... Fixing housing will have a lot of great downstream effects. |
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I would bet my bottom dollar that the proportion of residences that are not used as a primary residence is higher today than it was 30 years ago.
A few reasons that this would be the case in my opinion:
- A second home (holiday home, pied-à-terre, land-banked, etc) used to cost you money, but with capital gains as they have been for the past few decades now makes you money - so naturally more people will take advantage if they have the means to.
- Investing in housing has advantages that other types of investments don't (residential mortgage rates are lower than rates for business loans, leveraging, tax advantages, etc).
- Short term renting is now incredibly convenient and lucrative.
I think any government that is seriously interested in addressing the housing crisis should start by determining how much of the housing stock is not used as a primary residence.
Sure, build more housing, but there are some simple regulatory changes that could improve the situation with little effort in my opinion.