7 ms·

Until some major legislative changes or another recession occur, housing prices are likely to continue getting worse until people collectively agree it would be

Until some major legislative changes or another recession occur, housing prices are likely to continue getting worse until people collectively agree it would be more desirable to live somewhere else for a lower price.

mevile 7y ago
Why do you think a state legislature or city government will be able to solve a complex problem like housing prices? Do you know of any successful examples of a government intervention in housing prices? The closest I've seen is recent rules letting developers ignore city zoning rules to combat NIMBY attitudes that prevent additional housing development.
- grandmczeb 7y ago
  It’s largely a government caused problem, so why couldn’t there be a government solution as well? Repeal prop-13, reduce permitting costs/time, require statewide by-right, force up zoning, etc. Those are government solutions that would have significant impact if there was political will.
  - Tempest1981 7y ago
    Prop 13 was a ballot measure, and requires another ballot measure to repeal. Government can't help with that. But it's an uphill battle, vs groups like California Chamber of Commerce and Howard Jarvis. And they've convinced businesses that higher consumer taxes will hurt their profits, which could be true. So you have strong lobbying against repeal.
    - grandmczeb 7y ago
      I'm aware that prop 13 requires a ballot measure to repeal -- I think we may disagree on the semantics of what constitutes a "government solution" though.
- hkmurakami 7y ago
  They can make it easier to build. Or add is often the case, more difficult for municipalities to oppose development projects that meet certain desirable criteria. Examples include SB35 and possibly SB50 in the future.
- burlesona 7y ago
  Vancouver got housing prices to drop by about 20% by taxing foreign investors. https://www.huffingtonpost.ca/2017/02/15/vancouver-average-house-price-january-2017_n_14775268.html https://www.huffingtonpost.ca/2017/02/15/vancouver-average-h...
- nimih 7y ago
  Singapore fixed a decades-long housing crisis in the mid-to-late 1900s via a massive public housing program.
hugs 7y ago
I used to live in the Bay Area (Mountain View, 2007-08), but moved away because it was too expensive (ironically, just months before the banking crisis & Great Recession hit). I used to be perplexed why more people didn't also move away, but I finally realized (as the article also explains) that being able to move is an incredibly privileged position to be in. Some people simply can't afford to leave the situation they find themselves in, even if (or because) everything around them is too expensive. This could be because they have no/little savings, have family responsibilities, are dependent on their current employment for specific reasons (like medical insurance), safety reasons, or are dependent on local government services in some specific way. The list is long. Some people are stuck and probably won't get unstuck without major legislative changes that could help them.
- nradov 7y ago
  I sympathize with those concerns. But yet there were many desperately poor people during the Dust Bowl / Great Depression era who somehow managed to migrate across the country in search of a better life. Why were they able to do it?
  - neaanopri 7y ago
    The Dust Bowl threatening people with starvation hardly seems comparable with high rents. If SF got hit by a natural disaster which destroyed the Tech community (analogous to farming as the main industry of the midwest), you bet people would leave.

mevile 7y ago

Why do you think a state legislature or city government will be able to solve a complex problem like housing prices? Do you know of any successful examples of a government intervention in housing prices? The closest I've seen is recent rules letting developers ignore city zoning rules to combat NIMBY attitudes that prevent additional housing development.

grandmczeb 7y ago
It’s largely a government caused problem, so why couldn’t there be a government solution as well? Repeal prop-13, reduce permitting costs/time, require statewide by-right, force up zoning, etc. Those are government solutions that would have significant impact if there was political will.
- Tempest1981 7y ago
  Prop 13 was a ballot measure, and requires another ballot measure to repeal. Government can't help with that. But it's an uphill battle, vs groups like California Chamber of Commerce and Howard Jarvis. And they've convinced businesses that higher consumer taxes will hurt their profits, which could be true. So you have strong lobbying against repeal.
  - grandmczeb 7y ago
    I'm aware that prop 13 requires a ballot measure to repeal -- I think we may disagree on the semantics of what constitutes a "government solution" though.
hkmurakami 7y ago
They can make it easier to build. Or add is often the case, more difficult for municipalities to oppose development projects that meet certain desirable criteria. Examples include SB35 and possibly SB50 in the future.
burlesona 7y ago
Vancouver got housing prices to drop by about 20% by taxing foreign investors. https://www.huffingtonpost.ca/2017/02/15/vancouver-average-house-price-january-2017_n_14775268.html https://www.huffingtonpost.ca/2017/02/15/vancouver-average-h...
nimih 7y ago
Singapore fixed a decades-long housing crisis in the mid-to-late 1900s via a massive public housing program.

hugs 7y ago

I used to live in the Bay Area (Mountain View, 2007-08), but moved away because it was too expensive (ironically, just months before the banking crisis & Great Recession hit). I used to be perplexed why more people didn't also move away, but I finally realized (as the article also explains) that being able to move is an incredibly privileged position to be in. Some people simply can't afford to leave the situation they find themselves in, even if (or because) everything around them is too expensive. This could be because they have no/little savings, have family responsibilities, are dependent on their current employment for specific reasons (like medical insurance), safety reasons, or are dependent on local government services in some specific way. The list is long. Some people are stuck and probably won't get unstuck without major legislative changes that could help them.

nradov 7y ago
I sympathize with those concerns. But yet there were many desperately poor people during the Dust Bowl / Great Depression era who somehow managed to migrate across the country in search of a better life. Why were they able to do it?
- neaanopri 7y ago
  The Dust Bowl threatening people with starvation hardly seems comparable with high rents. If SF got hit by a natural disaster which destroyed the Tech community (analogous to farming as the main industry of the midwest), you bet people would leave.