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The effect will be to raise housing costs because that profits people who invest in houses. Voters want to get a job, borrow to buy a house, then sell it at a h
by vorg 11y ago
The effect will be to raise housing costs because that profits people who invest in houses. Voters want to get a job, borrow to buy a house, then sell it at a huge gain so they can retire early. U.S. voters are just like those in Canada, Australia, and New Zealand, and since the 2008 crash, will vote to restrict housing supply via zoning laws and boost buyer and renter supply via international students, and the flow-on effects in immigration and tourism -- students who graduate want to get a job and stay, and their families back home will come visit them -- just like what happened in Canada, Australia, and New Zealand.
- whybroke 11y agoNot just speculating land owners but also the financial institutions profiting from issuing mortgages whose influence on policy is obviously enormous. And while loosening zoning laws wouldn't hurt, there has not been any radical increase in such laws over the last 20 years, certainly not across the whole nation. Yet housing prices have sky rocketed over the same period, even in areas where zoning is lax. So, while it may help some, a real solution is evidently not going to be as facile as some re-zoning.