> Why don't they declare an emergency on the actual problem, chronic shortages of housing supply, and reform their zoning and tax/rent entitlements to fix it?

> Why don't they declare an emergency on the actual problem, chronic shortages of housing supply, and reform their zoning and tax/rent entitlements to fix it? Because a large segment of the population doesn't see it as a problem. Your "chronic housing shortage" is their winning lottery ticket. People who bought California property in the 70's, 80's, and 90's have a number of options, thanks to the chronic housing shortage. They can: fund a retirement in Arizona by selling the house outright (even with no other retirement savings); rent to newcomers for many times the house's mortgage payment (living quite comfortably off the difference); or simply take out a home equity loan to use the house as an ATM. Their children and grandchildren can inherit the tax basis for the property, too, so you're actually fighting two or three generations. Would you really vote for zoning & tax reform if it mean that you could no longer enjoy a passive, inherited income capable of fully supporting your family?