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this post was submitted on 20 Nov 2024
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I'm far from a "the free market solves all!" Type of person, but this is more likely due to government intervention, with zoning laws that restrict the density that can be built in certain areas, rather than a problem with the the free market run amok.
Like it's insane that nearly 40% of the land in San Fran is zoned for single family. This is government doing, not the free market.
We need more housing to alleviate the problem. But what we also need is a mindset shift of the everyday person that they aren't getting a 3k sqft house on an acre of land.
There's one common denominator across international lines. It's rent seeking capital looking for a free buck. The zoning laws are literally just regulatory capture of that rent seeking mentality. They're a symptom of the fundamental problem. The one thing too many refuse to see is that this is not a strictly corporate phenomenon. There's all kinds looking for "passive income." Rent seeking is the new American dream, as Trump shows. And it's not exclusive to us.
Can you show me a state that has no zoning laws, or something similar, that is also having an issue with housing prices?