That’s definitely a factor, but our housing supply is largely self inflected with outdated and poorly thought out zoning laws. Developers can’t build anything because the process to build anything takes years (sometimes decades), a fuck ton of money before they even break ground, and the law requires literally requires them to dedicate a certain ratio of their property (sometimes half) for parking. Not only that but so many projects get easily killed by NIMBYs for dumbest reasons. It’s no wonder we have shortage.
If we look at places that are building a shit ton of units, like Austin, the prices are actually going down and have been for years. Both the rent prices and house prices have gone down in Austin because, for whatever reason, they’re the only ones that figured out that the way to solving a housing crises is to pump the supply to the point where it exceeds demand, thus causing prices to fall. That’s what we need nationwide.
It’s so fucking dumb. Landlords aren’t the problem, corporations owning hundreds and thousands of homes is what’s driving rent through the roof.
That’s definitely a factor, but our housing supply is largely self inflected with outdated and poorly thought out zoning laws. Developers can’t build anything because the process to build anything takes years (sometimes decades), a fuck ton of money before they even break ground, and the law requires literally requires them to dedicate a certain ratio of their property (sometimes half) for parking. Not only that but so many projects get easily killed by NIMBYs for dumbest reasons. It’s no wonder we have shortage.
If we look at places that are building a shit ton of units, like Austin, the prices are actually going down and have been for years. Both the rent prices and house prices have gone down in Austin because, for whatever reason, they’re the only ones that figured out that the way to solving a housing crises is to pump the supply to the point where it exceeds demand, thus causing prices to fall. That’s what we need nationwide.