Dem presidential candidates have to win CA on Super Tuesday. That means they have to solve the housing "affordability" crisis here, or seem to.
Limits on supply
High prices of anything are caused by insufficient supply in relation to demand. Insufficient supply of houses in CA is caused by land-use regulations like zoning and the CA Coastal Commission.
The only real solution is to reduce land-use regulation—drastically.
But one man's affordability is another man's home value. Owners of existing homes, like businessmen, want government regulators to prevent anyone from competing with them when they sell their home, because they are unbelievably selfish a** holes.
They also prefer a bucolic, green, screen-saver background to their daily lives and don't mind getting it by rendering all the undeveloped land in their vicinity worthless by making it impossible or unprofitable to build on it.
They are called NIMBYs for Not In My Back Yard. They favor more housing in the abstract, but if you try to build it where they live, they will be at the planning commission meeting with torches and pitchforks screaming for the heads of any who support the increased traffic that would run over and kill their small children.
Berkeley, which is a Communist member of the Warsaw Pact, once proposed house price control. They already had rent control.
How did the Commie homeowners of Berkeley react to that?
Torches and pitchforks. The city council repealed it before the Bolsheviks tarred and feathered them and rode them out of town on an all-natural, non-GMO, organic rail.
So the Dem president wannabes will not be actually SOLVING the housing affordability crisis. Rather, they will propose having all the citizens of the states with less land-use regulation subsidize the states with housing crises caused by land-use regulations.
Tax credits is what they propose. Those would actually make prices higher by increasing effective demand. With Commies, there is no math and no economists other than Karl Marx and Paul Krugman.
Government home builders
Warren would give $50 B more for building housing to govt builders. That will produce about 10 poorly-built units. She will pay for that by increasing the estate tax (on those too dumb to dodge the new tax).
Both Booker and Warren would try to persuade zoning officials to decrease land-use regulations.
Ha! Note that Harris, who is from CA has not suggested that. And when Booker and Warren hire CA staff, that staff will lock them in the bathroom until they abandon any messing with land-use regulation.
Warren also advocates reparations for those NOW living in neighborhoods that were redlined in the 1960s and 1970s for being "hazardous." This would apply even to such neighborhoods that have been gentrified and are now expensive!!
And the Dem buying votes with freebies to be paid for by your grandchildren goes on. Happy days are here again if you vote for me, until the 'flation hits the fan.
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