4 ms·
> "Sarah Sherburn-Zimmer, executive director of the Housing Rights Committee of San Francisco, said housing problems have arisen because occupants leave buildin
by davidf18 10y ago
> "Sarah Sherburn-Zimmer, executive director of the Housing Rights Committee of San Francisco, said housing problems have arisen because occupants leave buildings being converted to communal homes and cannot afford to move back in or the space is no longer suitable for them."
This is incorrect. The reason is because of zoning density restrictions which causes market inefficiency in this case a politically induced scarcity which is a form of rent-seeking.
These zoning laws that create artificial scarcity benefit the wealthy landowners to the detriment of those who rent or want to buy into the housing market.
Economists discuss this. See Tim Harford's book, "The Undercover Economist" or read Harvard Economist Edward Glaeser for starters.
David Ricard was the first to see "rent-seeking" and he joined parliament to help to overturn the "Corn Laws" in 1848.
These zoning laws are simply another way of the wealthy to unfairly get more wealth from others instead of wealth creation through good ideas.
With all of the wealthy company owners in SV and SF, I'm surprise they don't lobby to overturn these repressive zoning laws.